Rising unemployment is expected to add to the case for a lower OCR. 

Unemployment's hit a five-year high of 5.2% and is expected to rise further. 

Economists now broadly expect the Reserve Bank to cut the Official Cash Rate by another 25-basis-points to 3% in two weeks. 

BNZ Chief Economist Mike Jones told Mike Hosking further cuts now seem likely. 

He says his team have been forecasting a neutral rate of 2.75% for years, but there's a chance the OCR could get to 2.5 percent in the current cycle. 

LISTEN ABOVE 

Rising unemployment is expected to add to the case for a lower OCR.&nbsp;
Unemployment's hit a five-year high of 5.2% and is expected to rise further.&nbsp;
Economists now broadly expect the Reserve Bank to cut the Official Cash Rate by another 25-basis-points to 3% in two weeks.&nbsp;
BNZ Chief Economist Mike Jones told Mike Hosking further cuts now seem likely.&nbsp;
He says his team have been forecasting a neutral rate of 2.75% for years, but there's a chance the OCR could get to 2.5 percent in the current cycle.&nbsp;
LISTEN ABOVE&nbsp;

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more.

The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Mike Jones: BNZ Chief Economist on the unemployment rate rising to 5.2%, expected OCR cut

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3e08846f-f8a7-4c67-9352-b331016c371c/transcript

How long can you pedal an invention? 

On Friday March 6th the poll is out. It's bad for National and the media has concocted the idea that as a result of these numbers and the previous Monday's press conference about the war, that things have got so bad for the Prime Minister he is “considering his position over the weekend”. 

They have also concluded numbers are being crunched, pressure is mounting and pressure is building for him to resign. 

By the Monday, on this programme, March 9th it is clear no such thing has happened. No numbers are crunched and no considering of positions has been undertaken. 

Is that the end of the story? No, it is not. It bubbles on for the rest of the week with literally nothing happening apart from the reiteration of what we already know not to be true. 

By Thursday last week the NZ Herald runs an editorial declaring he has survived the week. 

Survived from what? Their invention of a problem? 

On Friday, Peter Dunne writes a piece that calls the media invented nonsense out. 

On Saturday, Bruce Cotterill adds TVNZ woes to the list, but also points to the abject absurdity of the previous Monday's blitzkrieg at the airport as said Prime Minister and various Cabinet members arrive in Wellington to a pack of screeching journalists still refusing to believe that the story is entirely of their invention. 

Then yesterday, March 16th, ten calendar days since the invention, Radio NZ were to have two talking heads discussing how the Prime Minister survived the pressure and the pending consideration of his position. 

Assuming today there is no more, surely that has to be a record for continuing coverage of a pile of bollocks. Which leads to the question: how dangerous are our media when they invent a story and run with it? And then having had it dispelled, continue to run with it? 

New week and there's a new story. The aforementioned Prime Minister ahead of his Pacific trip asked for a title, said the Samoan Prime Minister.  "Not true," said the Prime Minister's office, yet they still ran with it until Monday when the Samoan Government said it's not true. 

How many times do you have to say a story isn't true before it isn't a story? 

Is it true to say if a story that isn't true is still run as a story, we most definably have an agenda here? A bias? A level of dishonesty? 

Given that, do they wonder why their reputations are in tatters? 

Do they even care? 

How long can you pedal an invention?&nbsp;
On Friday March 6th the poll is out. It's bad for National and the media has concocted the idea that as a result of these numbers and the previous Monday's press conference about the war, that things have got so bad for the Prime Minister he is “considering his position over the weekend”.&nbsp;
They have also concluded numbers are being crunched, pressure is mounting and pressure is building for him to resign.&nbsp;
By the Monday, on this programme, March 9th it is clear no such thing has happened. No numbers are crunched and no considering of positions has been undertaken.&nbsp;
Is that the end of the story? No, it is not. It bubbles on for the rest of the week with literally nothing happening apart from the reiteration of what we already know not to be true.&nbsp;
By Thursday last week the NZ Herald runs an editorial declaring he has survived the week.&nbsp;
Survived from what? Their invention of a problem?&nbsp;
On Friday, Peter Dunne writes a piece that calls the media invented nonsense out.&nbsp;
On Saturday, Bruce Cotterill adds TVNZ woes to the list, but also points to the abject absurdity of the previous Monday's blitzkrieg at the airport as said Prime Minister and various Cabinet members arrive in Wellington to a pack of screeching journalists still refusing to believe that the story is entirely of their invention.&nbsp;
Then yesterday, March 16th, ten calendar days since the invention, Radio NZ were to have two talking heads discussing how the Prime Minister survived the pressure and the pending consideration of his position.&nbsp;
Assuming today there is no more, surely that has to be a record for continuing coverage of a pile of bollocks. Which leads to the question: how dangerous are our media when they invent a story and run with it? And then having had it dispelled, continue to run with it?&nbsp;
New week and there's a new story. The aforementioned Prime Minister ahead of his Pacific trip asked for a title, said the Samoan Prime Minister. &nbsp;"Not true," said the Prime Minister's office, yet they still ran with it until Monday when the Samoan Government said it's not true.&nbsp;
How many times do you have to say a story isn't true before it isn't a story?&nbsp;
Is it true to say if a story that isn't true is still run as a story, we most definably have an agenda here? A bias? A level of dishonesty?&nbsp;
Given that, do they wonder why their reputations are in tatters?&nbsp;
Do they even care?&nbsp;

Mike's Minute: Invented stories and the media

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/80a6f9f6-99f7-473a-bd23-b40f015d0e34/transcript

The UK says it won't be drawn into a wider war in the Middle East as Donald Trump urges allies to keep shipping lanes open. 

The US President wants nations to help police the strait after Iran used drones, missiles, and mines to shut the key channel, used by tankers carrying a fifth of the world’s oil and gas. 

Prime Minister Keir Starmer says Britain will work toward a fast resolution that brings security and stability, and he wants to see an end to the war as soon as possible, as it becomes more dangerous the longer it drags on. 

UK Correspondent Rod Liddle told Mike Hosking that Starmer’s position is roughly in line with what the nation is thinking.  

LISTEN ABOVE 

The UK says it won't be drawn into a wider war in the Middle East as Donald Trump urges allies to keep shipping lanes open.&nbsp;
The US President wants nations to help police the strait after Iran used drones, missiles, and mines to shut the key channel, used by tankers carrying a fifth of the world’s oil and gas.&nbsp;
Prime Minister Keir Starmer says Britain will work toward a fast resolution that brings security and stability, and he wants to see an end to the war as soon as possible, as it becomes more dangerous the longer it drags on.&nbsp;
UK Correspondent Rod Liddle told Mike Hosking that Starmer’s position is roughly in line with what the nation is thinking. &nbsp;
LISTEN ABOVE&nbsp;

Rod Liddle: UK Correspondent on the UK's stance on the war in the Middle East, Strait of Hormuz

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9533c42d-856b-4db5-b394-b40f015aacb0/transcript

One of our favourite tool shops is now a century old. 

2026 marks 100 years for the tool company Stihl, which has been in New Zealand for over 40 years. 

It’s been family-run since its inception – founded by Andreas Stihl in 1926 and passed on to his son, Hans Peter Stihl, before his grandson Dr Nikolas Stihl took the reins.  

He’s the Chair of the Advisory Board and Supervisory Board and told Mike Hosking that remaining a family-run model has been better for them in the long run.  

“Family-run businesses, they simply can take strategic decisions better than publicly owned companies,” Stihl says. 

“We don’t report to any boards outside of the family ... we are independent, and in the long run, at least for us, that has been a lot better.”  

With a turnover of €5.5 billion, equivalent to nearly $11 billion, 20 thousand employees, and manufacturing in eight countries around the world, Stihl is still continuing to grow. 

“We keep on growing,” Stihl told Hosking. 

“We’ve grown last year, and that wasn’t easy because of the world economy, but we did.”  

LISTEN ABOVE 

One of our favourite tool shops is now a century old.&nbsp;
2026 marks 100 years for the tool company Stihl, which has been in New Zealand for over 40 years.&nbsp;
It’s been family-run since its inception – founded by Andreas Stihl in 1926 and passed on to his son, Hans Peter Stihl, before his grandson Dr Nikolas Stihl took the reins. &nbsp;
He’s the Chair of the Advisory Board and Supervisory Board and told Mike Hosking that remaining a family-run model has been better for them in the long run. &nbsp;
“Family-run businesses, they simply can take strategic decisions better than publicly owned companies,” Stihl says.&nbsp;
“We don’t report to any boards outside of the family ... we are independent, and in the long run, at least for us, that has been a lot better.” &nbsp;
With a turnover of €5.5 billion, equivalent to nearly $11 billion, 20 thousand employees, and manufacturing in eight countries around the world, Stihl is still continuing to grow.&nbsp;
“We keep on growing,” Stihl told Hosking.&nbsp;
“We’ve grown last year, and that wasn’t easy because of the world economy, but we did.” &nbsp;
LISTEN ABOVE&nbsp;

Dr Nikolas Stihl: Chair of the Stihl Advisory Board and Supervisory Board on the company's 100th anniversary

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/445a47d1-64bd-4f4a-a858-b40f0155f4fd/transcript

Mike Jones: BNZ Chief Economist on the unemployment rate rising to 5.2%, expected OCR cut

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