Rising inflation is hitting low-income households hard, but is expected to spark hikes to the OCR. 

New data -- due out from Stats NZ this morning -- is expected to show inflation has risen to between 2.6 and 2.9 percent in the year to June. 

ANZ Chief Economist Sharon Zollner says households are facing rising energy and food prices. 

She says inflation could surpass three percent in the year to September, but the Reserve Bank isn't likely to change course. 

LISTEN HERE 

 

 

Rising inflation is hitting low-income households hard, but is expected to spark hikes to the OCR.&nbsp;
New data -- due out from Stats NZ this morning -- is expected to show inflation has risen to between 2.6 and 2.9 percent in the year to June.&nbsp;
ANZ Chief Economist Sharon Zollner says households are facing rising energy and food prices.&nbsp;
She says inflation could surpass three percent in the year to September, but the Reserve Bank isn't likely to change course.&nbsp;
LISTEN HERE&nbsp;
&nbsp;
&nbsp;

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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

Sharon Zollner: ANZ Chief Economist on what rising inflation means for OCR

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/deb421f5-d613-4928-9b37-b32001423d23/transcript

Of all the nutty stuff Trump is up to, the most egregious is the DOJ-Jerome Powell investigation. 

Powell —I have not one shadow of doubt— makes, along with his board members, decisions based on traditional economic or monetary thinking. 

Trump does not. 

Of course you can debate, as we have in this country, whether a governor or chair of a central bank is doing the right thing or a good thing. But what you don’t do is weaponize the law to hunt him down. 

A central bank’s independence is the cornerstone of how a lot of the world’s economy works. It matters. 

Which is why so many central bank chiefs came out in defence of Powell — one of which was our newly minted Reserve Bank Governor, Dr Anna Breman. 

She is now, it seems, in trouble for doing so. Winston Peters I didn’t take that seriously, but Nicola Willis I do. And together I most certainly do. Both have now spoken out against her move. Willis says she should have taken advice. 

Breman says she didn’t want to wake Willis at 3 in the morning. That worries me. I have woken the boss here at 3 in the morning because my computer password didn’t work. I would have no hesitation ringing Willis at a similar time. I worry about her weakness. 

But more importantly — advice on what? Breman is independent. The irony is that the entire debate around Powell is about independence and the defence of it. Can Breman now only be independent if the government says so? And if that’s the case, how far removed from the Trump view of the world are Peters and Willis? 

Are Willis and Peters scared of America and the White House? Would the advice have been: “Look, obviously you are independent, but please keep in mind we are scared witless of the nut job in Washington, so anything you can do to stop things getting messy would be appreciated”? 

Or —if we are universally agreed Breman should have taken advice— is she in fact a loose unit? Have we hired the wrong person? A person who has put her foot in it having only been in the job 15 minutes? 

So which is it? She is independent, and good on her? Or she is a puppet of government and she’s trouble waiting to happen? 

Answers please. 

Of all the nutty stuff Trump is up to, the most egregious is the DOJ-Jerome Powell investigation.&nbsp;
Powell —I have not one shadow of doubt— makes, along with his board members, decisions based on traditional economic or monetary thinking.&nbsp;
Trump does not.&nbsp;
Of course you can debate, as we have in this country, whether a governor or chair of a central bank is doing the right thing or a good thing. But what you don’t do is weaponize the law to hunt him down.&nbsp;
A central bank’s independence is the cornerstone of how a lot of the world’s economy works. It matters.&nbsp;
Which is why so many central bank chiefs came out in defence of Powell — one of which was our newly minted Reserve Bank Governor, Dr Anna Breman.&nbsp;
She is now, it seems, in trouble for doing so. Winston Peters I didn’t take that seriously, but Nicola Willis I do. And together I most certainly do. Both have now spoken out against her move. Willis says she should have taken advice.&nbsp;
Breman says she didn’t want to wake Willis at 3 in the morning. That worries me. I have woken the boss here at 3 in the morning because my computer password didn’t work. I would have no hesitation ringing Willis at a similar time. I worry about her weakness.&nbsp;
But more importantly — advice on what? Breman is independent. The irony is that the entire debate around Powell is about independence and the defence of it. Can Breman now only be independent if the government says so? And if that’s the case, how far removed from the Trump view of the world are Peters and Willis?&nbsp;
Are Willis and Peters scared of America and the White House? Would the advice have been: “Look, obviously you are independent, but please keep in mind we are scared witless of the nut job in Washington, so anything you can do to stop things getting messy would be appreciated”?&nbsp;
Or —if we are universally agreed Breman should have taken advice— is she in fact a loose unit? Have we hired the wrong person? A person who has put her foot in it having only been in the job 15 minutes?&nbsp;
So which is it? She is independent, and good on her? Or she is a puppet of government and she’s trouble waiting to happen?&nbsp;
Answers please.&nbsp;

Mike's Minute: Should Anna Breman be in trouble?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9018ea64-44d0-4fbd-ba7f-b3d70164632e/transcript

Conservative MPs are continuing to jump ship to Reform UK. 

Andrew Rosindell is the second MP to defect in the span of a week, following on from Robert Jenrick, who was sacked as shadow justice secretary last week.  

UK Correspondent Rod Liddle told Mike Hosking it’s unlikely to stop until Reform starts showing signs of sagging in the polls. 

He says there has been some resistance within the Party to the influx of Tories, as they don’t want it to become the Tory Party Mark 2.  

LISTEN ABOVE 

Conservative MPs are continuing to jump ship to Reform UK.&nbsp;
Andrew Rosindell is the second MP to defect in the span of a week, following on from Robert Jenrick, who was sacked as shadow justice secretary last week. &nbsp;
UK Correspondent Rod Liddle told Mike Hosking it’s unlikely to stop until Reform starts showing signs of sagging in the polls.&nbsp;
He says there has been some resistance within the Party to the influx of Tories, as they don’t want it to become the Tory Party Mark 2. &nbsp;
LISTEN ABOVE&nbsp;

Rod Liddle: UK Correspondent on the Conservative MPs joining up with Reform UK

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/96376e12-1c7a-42ed-b4ed-b3d7015e85e5/transcript

Europe is split on how to handle Donald Trump's escalating attempts to take control of Greenland.  

The US President's said he will impose tariffs on eight European countries unless he can buy the Danish territory.  

Newstalk ZB's Paris Correspondent Catherine Field told Mike Hosking the bull is in the china shop, and leaders can't agree on next steps.  

She says for example, the Germans want a combative approach behind closed doors while appearing conciliatory in public. 

Field says on the other hand, the French President wants to use what they're calling the bazooka, which would see the US hit with $190-billion worth of tariffs. 

LISTEN ABOVE 

Europe is split on how to handle Donald Trump's escalating attempts to take control of Greenland. &nbsp;
The US President's said he will impose tariffs on eight European countries unless he can buy the Danish territory. &nbsp;
Newstalk ZB's Paris Correspondent Catherine Field told Mike Hosking the bull is in the china shop, and leaders can't agree on next steps. &nbsp;
She says for example, the Germans want a combative approach behind closed doors while appearing conciliatory in public.&nbsp;
Field says on the other hand, the French President wants to use what they're calling the bazooka, which would see the US hit with $190-billion worth of tariffs.&nbsp;
LISTEN ABOVE&nbsp;

Catherine Field: France Correspondent on European leaders' handling of Trump's attempts to take control of Greenland

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/123fa27e-eaae-47f0-bf94-b3d7015ad00f/transcript

Sharon Zollner: ANZ Chief Economist on what rising inflation means for OCR

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