Reserve Bank Governor Adrian Orr is facing a tough decision on whether to cut the Official Cash Rate today.

Financial markets are pricing in a cut, but economists remain divided on whether that should happen.

Former Finance Minister Steven Joyce says Orr doesn't want to act too quickly and risk having to backtrack if non-tradable inflation continues to remain high.

But, he told Mike Hosking, neither does he want to act too slowly and see the economy stagnate or decline.

Joyce says many businesses are struggling and the energy shortage is going to significantly reduce production in the months ahead.

LISTEN ABOVE

Reserve Bank Governor Adrian Orr is facing a tough decision on whether to cut the Official Cash Rate today. 
Financial markets are pricing in a cut, but economists remain divided on whether that should happen. 
Former Finance Minister Steven Joyce says Orr doesn't want to act too quickly and risk having to backtrack if non-tradable inflation continues to remain high. 
But, he told Mike Hosking, neither does he want to act too slowly and see the economy stagnate or decline. 
Joyce says many businesses are struggling and the energy shortage is going to significantly reduce production in the months ahead. 
LISTEN ABOVE

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

Steven Joyce: Former Finance Minister on the likelihood of an OCR cut today

Former Australian Prime Minister, Scott Morrison testified yesterday via video link in a defamation case Senator Linda Reynolds brought against her former staffer, Brittany Higgins.

Senator Reynolds is suing Ms Higgins over social media posts made last year, which she claims greatly injured her character and reputation and caused her distress and embarrassment.

 Mr Morrison stood by his previous criticism of Senator Reynolds for calling Ms Higgins a "lying cow", deeming the comment unacceptable. 

Morrison criticized Labor for "weaponizing" Brittany Higgins's rape allegation, saying he was concerned it endangered his former defence minister's life.

Steve Price, Australian Correspondent, told Mike Hosking the former Prime Minister was getting interrupted by the judge. 

LISTEN ABOVE

Former Australian Prime Minister, Scott Morrison testified yesterday via video link in a defamation case Senator Linda Reynolds brought against her former staffer, Brittany Higgins.
Senator Reynolds is suing Ms Higgins over social media posts made last year, which she claims greatly injured her character and reputation and caused her distress and embarrassment.
 Mr Morrison stood by his previous criticism of Senator Reynolds for calling Ms Higgins a "lying cow", deeming the comment unacceptable. 
Morrison criticized Labor for "weaponizing" Brittany Higgins's rape allegation, saying he was concerned it endangered his former defence minister's life. 
Steve Price, Australian Correspondent, told Mike Hosking the former Prime Minister was getting interrupted by the judge.  
LISTEN ABOVE

Steve Price: Australian Correspondent on Scott Morrison appearing for the Brittany Higgins defamation trial

My least favourite data dump yesterday. 

Firstly tourism – which yet again reminds me how, when I was asking well in excess of a year ago where the hell all the people were, no one seemed to care or hear me

Fast forward 18 months, with the numbers stuck at about 80% of what they were 5 years ago, the industry I read now is “worried". Why weren't they worried when I was worried? Why does it take so many so long to wake up to what's staring at them?

But they aren't as bad as the migration figures, also out yesterday. We are still leaving the country in record numbers. Overall, we are gaining people, but the people are coming from China, India, Fiji, and the Philippines. Which is not being racist, but it is questioning just what sort of skills they are bringing and how great is the cultural balance being affected by us leaving and them arriving.

The reason I hate the departure numbers so much is severalfold: 

1. They are mainly the young. Not good for our future.

2. It isn't stopping. Having people scarper isn't new but having them scraper continually for such a long period is.

Places like Wellington are being hollowed out as the young leave, but the arrivals land in places like Auckland. So overall we are not replacing like with like.

But the thing that irks me most is the credibility issue. 

We look like crap. We look like a bad party. We look like Nigel-no-mates.

Our rep is rubbish. New Zealanders look around month, after month, after month, and say, you know what? I don't want to be here anymore. I don’t like it here; I like it over there.

Over there is mainly Australia, and I have never liked losing to Australia.

I don’t mind people leaving, I don’t mind competing. It’s a free and open world.

But I think that is part of the issue. Are we competing? Are we competitive? What do we have to offer, what's compelling about New Zealand in 2024?

Numbers don’t lie. Immigration is often driven by the wanderlust of youth – this is more than wanderlust. This is dislike, this is no future, this is despair.

We are bleeding people and talent.

Of all the damage Labour did to this country, forcing its young people out might historically be shown to be the most ruinous thing of all.

My least favourite data dump yesterday.  
Firstly tourism – which yet again reminds me how, when I was asking well in excess of a year ago where the hell all the people were, no one seemed to care or hear me 
Fast forward 18 months, with the numbers stuck at about 80% of what they were 5 years ago, the industry I read now is “worried". Why weren't they worried when I was worried? Why does it take so many so long to wake up to what's staring at them? 
But they aren't as bad as the migration figures, also out yesterday. We are still leaving the country in record numbers. Overall, we are gaining people, but the people are coming from China, India, Fiji, and the Philippines. Which is not being racist, but it is questioning just what sort of skills they are bringing and how great is the cultural balance being affected by us leaving and them arriving. 
The reason I hate the departure numbers so much is severalfold:  
1. They are mainly the young. Not good for our future. 
2. It isn't stopping. Having people scarper isn't new but having them scraper continually for such a long period is. 
Places like Wellington are being hollowed out as the young leave, but the arrivals land in places like Auckland. So overall we are not replacing like with like. 
But the thing that irks me most is the credibility issue.  
We look like crap. We look like a bad party. We look like Nigel-no-mates. 
Our rep is rubbish. New Zealanders look around month, after month, after month, and say, you know what? I don't want to be here anymore. I don’t like it here; I like it over there. 
Over there is mainly Australia, and I have never liked losing to Australia. 
I don’t mind people leaving, I don’t mind competing. It’s a free and open world. 
But I think that is part of the issue. Are we competing? Are we competitive? What do we have to offer, what's compelling about New Zealand in 2024? 
Numbers don’t lie. Immigration is often driven by the wanderlust of youth – this is more than wanderlust. This is dislike, this is no future, this is despair. 
We are bleeding people and talent. 
Of all the damage Labour did to this country, forcing its young people out might historically be shown to be the most ruinous thing of all.

Mike's Minute: New Zealanders leaving could be Labour's worst legacy

Pete Miskimmin is one of New Zealand’s leading sports administrators – and he’s set to show us off to the world.

The former Black Sticks Captain and Sports NZ CEO has taken on a new role as Sports Diplomacy Manager and tasked with using sport to achieve Government objectives in political, economic, and social sectors.

He told Mike Hosking that it allows them to build key relationships and attract people in a relaxed, informal environment without all the suits and officials around.

LISTEN ABOVE

Pete Miskimmin is one of New Zealand’s leading sports administrators – and he’s set to show us off to the world. 
The former Black Sticks Captain and Sports NZ CEO has taken on a new role as Sports Diplomacy Manager and tasked with using sport to achieve Government objectives in political, economic, and social sectors. 
He told Mike Hosking that it allows them to build key relationships and attract people in a relaxed, informal environment without all the suits and officials around. 
LISTEN ABOVE

Steven Joyce: Former Finance Minister on the likelihood of an OCR cut today

In 1 playlist(s)

The Mike Hosking Breakfast

Social links

Follow podcast

Recent clips