Economists are split on how far the Reserve Bank will go with slashing the Official Cash Rate. 

The central bank will reveal its latest monetary policy decision this afternoon.  

There are strong expectations of a cut from three percent, but debate over its size.  

ANZ says a 25 basis point cut could be strategic at this point in the cycle, with the OCR near its bottom.  

But ASB Chief Economist Nick Tuffley told Mike Hosking he favours a 50 basis point cut.  

He says you can make a case either way, but he thinks it's time to give it a firmer nudge than what we've seen recently. 

LISTEN ABOVE 

Economists are split on how far the Reserve Bank will go with slashing the Official Cash Rate.&nbsp;
The central bank will reveal its latest monetary policy decision this afternoon. &nbsp;
There are strong expectations of a cut from three percent, but debate over its size. &nbsp;
ANZ says a 25 basis point cut could be strategic at this point in the cycle, with the OCR near its bottom. &nbsp;
But ASB Chief Economist Nick Tuffley told Mike Hosking he favours a 50 basis point cut. &nbsp;
He says you can make a case either way, but he thinks it's time to give it a firmer nudge than what we've seen recently.&nbsp;
LISTEN ABOVE&nbsp;

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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

Nick Tuffley: ASB Chief Economist on whether the OCR will be cut by 25 basis points or 50

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ac28869e-0063-40b7-aeab-b36f013b6490/transcript

Luxon - 1, media - 0. 

After no small effort on the media's part to drum up a crisis on a bad poll, there's two important points and we can put this whole nonsense to bed. 

1) Luxon doesn’t have a coup brewing. Despite all the detractors' best efforts, there is no one counting numbers. The nearest they have managed to get is Chris Bishop, who was more interested in being in India over the weekend than lining up a new job for the new week. 

Also, we don’t vote for Prime Ministers. They are not presidents. We vote for parties and policies and results. If you like National you don’t not vote National because the leader isn't to your taste. 

2) The revelation from the Curia poll, that on one hand they tried to tell you how unpopular Luxon was with a net negative rating of -19. It turns out Bishop is about as bad on -14. Erica Stanford is -16. Everyone is underwater. 

Chuck in Winston, Seymour, and Hipkins, you'll see no one is in positive territory and that tells you a couple of things as well. We live in an era where likeability is irrelevant because we hate everyone. 

Post-Covid we have never got over the funk, so as much as you want to bang on about Luxon not connecting, according to the numbers, no one connects. 

It's all over the world. Trump is underwater, Starmer is underwater, Albanese is underwater and Macron is underwater. 

Chris Minns who runs New South Wales is popular currently because of his handling of Bondi. Apart from that pick a politician because we hate them all. 

In the likeability numbers, the likes of which we see in the TV1 poll, if Hipkins was 50% and Luxon was 20% then that's an issue. But they aren't. They both have been stuck at about 20% forever and all the others are below that. 

That's why none of this matters. In the past the polls have shown an answer, a suitor, a name that drives a bit of fizz. We have no such names. 

Now, you can debate the merits or otherwise of great leaders with great personalities, or lack of them. But we are where we are and none of the current lot will go down as Churchill's, to paraphrase Trump. And Churchill, by the way, for a lot of the time wasn’t popular either. 

So let's see this nonsense for what it is: we are voting on the economy, not show-men. There is no coup, this is but one poll. Mountain versus molehill. A waste of time. 

Let's all try and do a lot better. There is too much at stake. 

Luxon - 1, media - 0.&nbsp;
After no small effort on the media's part to drum up a crisis on a bad poll, there's two important points and we can put this whole nonsense to bed.&nbsp;
1) Luxon doesn’t have a coup brewing. Despite all the detractors' best efforts, there is no one counting numbers. The nearest they have managed to get is Chris Bishop, who was more interested in being in India over the weekend than lining up a new job for the new week.&nbsp;
Also, we don’t vote for Prime Ministers. They are not presidents. We vote for parties and policies and results. If you like National you don’t not vote National because the leader isn't to your taste.&nbsp;
2) The revelation from the Curia poll, that on one hand they tried to tell you how unpopular Luxon was with a net negative rating of -19. It turns out Bishop is about as bad on -14. Erica Stanford is -16. Everyone is underwater.&nbsp;
Chuck in Winston, Seymour, and Hipkins, you'll see no one is in positive territory and that tells you a couple of things as well. We live in an era where likeability is irrelevant because we hate everyone.&nbsp;
Post-Covid we have never got over the funk, so as much as you want to bang on about Luxon not connecting, according to the numbers, no one connects.&nbsp;
It's all over the world. Trump is underwater, Starmer is underwater, Albanese is underwater and Macron is underwater.&nbsp;
Chris Minns who runs New South Wales is popular currently because of his handling of Bondi. Apart from that pick a politician because we hate them all.&nbsp;
In the likeability numbers, the likes of which we see in the TV1 poll, if Hipkins was 50% and Luxon was 20% then that's an issue. But they aren't. They both have been stuck at about 20% forever and all the others are below that.&nbsp;
That's why none of this matters. In the past the polls have shown an answer, a suitor, a name that drives a bit of fizz. We have no such names.&nbsp;
Now, you can debate the merits or otherwise of great leaders with great personalities, or lack of them. But we are where we are and none of the current lot will go down as Churchill's, to paraphrase Trump. And Churchill, by the way, for a lot of the time wasn’t popular either.&nbsp;
So let's see this nonsense for what it is: we are voting on the economy, not show-men. There is no coup, this is but one poll. Mountain versus molehill. A waste of time.&nbsp;
Let's all try and do a lot better. There is too much at stake.&nbsp;

Mike's Minute: Two important points on the Luxon story

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/85486406-db69-4c33-9d59-b408015c7574/transcript

The UK and France are sending more defence assets to the Middle East as the conflict's death toll ticks over 1700.  

Iran has appointed the son of the late Ayatollah Ali Khamenei as its new Supreme Leader, signalling a defiance to the US and Israel.  

Many of the deaths so far have occurred within Iran and Lebanon, with Israel ramping up its strikes.   

French President Emmanuel Macron says his country will deploy 10 warships and an aircraft carrier to nearby waters as a defensive measure. 

France Correspondent Catherine Field told Mike Hosking that Macron is saying what most other European leaders are saying – they are there to protect their interests, assets, and citizens.  

She says they’re defending their assets and allies in the area, but they’re not getting involved in the wider conflict.  

LISTEN ABOVE   

The UK and France are sending more defence assets to the Middle East as the conflict's death toll ticks over 1700. &nbsp;
Iran has appointed the son of the late Ayatollah Ali Khamenei as its new Supreme Leader, signalling a defiance to the US and Israel. &nbsp;
Many of the deaths so far have occurred within Iran and Lebanon, with Israel ramping up its strikes. &nbsp;&nbsp;
French President Emmanuel Macron says his country will deploy 10 warships and an aircraft carrier to nearby waters as a defensive measure.&nbsp;
France Correspondent Catherine Field told Mike Hosking that Macron is saying what most other European leaders are saying – they are there to protect their interests, assets, and citizens. &nbsp;
She says they’re defending their assets and allies in the area, but they’re not getting involved in the wider conflict. &nbsp;
LISTEN ABOVE &nbsp;&nbsp;

Catherine Field: France Correspondent on the Middle East conflict, impact on the stock market, increased defence assets

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/182817c2-a47a-4c2b-af5e-b408015a1388/transcript

One of our best up and coming country music talents is being recognised across the ditch. 

Zac Griffith is a self-taught musician from Tapawera, near Nelson, and his rise started at the Gold Guitar Awards, which he won in 2023 at the age of 18.  

He joined Kaylee Bell on tour last year, and got a co-sign from Entertainer of the Year, Lainey Wilson.  

Griffith told Mike Hosking that Bell has been a big influence and cheerleader for him. 

“She really has boosted my confidence, especially with taking me on that tour that she did last year,” he explained.  

“It’s, you know, getting the praise from people that you look up to – people that are doing what you want to be doing.” 

Griffith had won a handful of country music awards before taking home the Gold Guitar, but it was that award that reinforced his path in music.  

“Winning that really was, was a testament to me, and was, yeah the thing that made me go, okay, I must be doing alright.” 

LISTEN ABOVE   

One of our best up and coming country music talents is being recognised across the ditch.&nbsp;
Zac Griffith is a self-taught musician from Tapawera, near Nelson, and his rise started at the Gold Guitar Awards, which he won in 2023 at the age of 18. &nbsp;
He joined Kaylee Bell on tour last year, and got a co-sign from Entertainer of the Year, Lainey Wilson. &nbsp;
Griffith told Mike Hosking that Bell has been a big influence and cheerleader for him.&nbsp;
“She really has boosted my confidence, especially with taking me on that tour that she did last year,” he explained. &nbsp;
“It’s, you know, getting the praise from people that you look up to – people that are doing what you want to be doing.”&nbsp;
Griffith had won a handful of country music awards before taking home the Gold Guitar, but it was that award that reinforced his path in music. &nbsp;
“Winning that really was, was a testament to me, and was, yeah the thing that made me go, okay, I must be doing alright.”&nbsp;
LISTEN ABOVE &nbsp;&nbsp;

Zac Griffith: Kiwi country musician on his new music, journey in country music

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/32e5572e-775f-4b97-bf15-b40801562ec3/transcript

Nick Tuffley: ASB Chief Economist on whether the OCR will be cut by 25 basis points or 50

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