Kiwis could expect another cut to the Official Cash Rate before Christmas. 

The Reserve Bank has cut the OCR by 50 basis points, following a 25-basis point cut in August. 

Banks are following through with further interest rate cuts. 

ASB Chief Executive Vittoria Shortt told Mike Hosking the neutral rate is about 3.25%, so the central bank still has a way to go. 

She says it could drop another 50 basis points next month, provided inflation is back under control. 

LISTEN ABOVE 

Kiwis could expect another cut to the Official Cash Rate before Christmas.&nbsp;
The Reserve Bank has cut the OCR by 50 basis points, following a 25-basis point cut in August.&nbsp;
Banks are following through with further interest rate cuts.&nbsp;
ASB Chief Executive Vittoria Shortt told Mike Hosking the neutral rate is about 3.25%, so the central bank still has a way to go.&nbsp;
She says it could drop another 50 basis points next month, provided inflation is back under control.&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

Vittoria Shortt: ASB Chief Executive on the OCR dropping by 50 basis points

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a7bc526b-fde9-4d06-b584-b2040133f5dd/transcript

Wellington looks to me to be in rude health.

For a city down in the dumps, with a reputation problem and a previously shocking council, public service issues and any number of surveys talking about negativity, how come Wellington looks so busy?

I was down for dinner Saturday night. The drive from the airport around the Bays was packed. Jervois Quay was packed, bumper to bumper.

If you had told me there was an All Black test down the end of the road at the stadium I would have believed you.

The restaurant was packed. They do two sittings a night and you can't get a table.

The restaurant next door was packed. They got a Michelin star earlier in the week but they told me it was always busy anyway.

The hotel was flat out. It could be because of school holidays. I stood in the hotel room after dinner looking down on the traffic. I have no idea where they were off to but there were a lot of them.

Having lived in Wellington for a decade I think it's probably the best looking of our cities. There is a lot of seriously good architecture, some beautiful buildings and a lot of suburbs with houses with spectacular views.

But it's reputation is still a problem. Katie asked on Instagram where the best place to eat in Wellington was. One person said the Koru lounge while another person said anywhere in Auckland.

In fact a lot of people made those jokes. There is a strong anti-Wellington vibe around the country and yet, and I guess this is the tourist snapshot problem, one night does not a proper impression make.
 
There were all those international travellers that talked about how fabulous the world was and how miserable New Zealand is when we went around the world the other day. I think we busted that myth because any place, when you are in a hotel or in a restaurant without a care in the world, seems better than home.

But it doesn’t mean they don’t have their issues.

Wellington seems like a good looking town. The hospitality scene, despite all you hear, on Saturday night was overflowing. It was busy, it was bustling and as I sat in the restaurant for breakfast at seven o'clock yesterday morning there was a lot more action out and about than you ever see in a place like Christchurch and Auckland at that time on a weekend.

And that’s before you get to the joggers on Evans Bay Parade running into a southerly and seven degrees. You've got to love that.

Wellington the image and Wellington the reality is not the same thing.

LISTEN ABOVE

Wellington looks to me to be in rude health.
For a city down in the dumps, with a reputation problem and a previously shocking council, public service issues and any number of surveys talking about negativity, how come Wellington looks so busy?
I was down for dinner Saturday night. The drive from the airport around the Bays was packed. Jervois Quay was packed, bumper to bumper.
If you had told me there was an All Black test down the end of the road at the stadium I would have believed you.
The restaurant was packed. They do two sittings a night and you can't get a table.
The restaurant next door was packed. They got a Michelin star earlier in the week but they told me it was always busy anyway.
The hotel was flat out. It could be because of school holidays. I stood in the hotel room after dinner looking down on the traffic. I have no idea where they were off to but there were a lot of them.
Having lived in Wellington for a decade I think it's probably the best looking of our cities. There is a lot of seriously good architecture, some beautiful buildings and a lot of suburbs with houses with spectacular views.
But it's reputation is still a problem. Katie asked on Instagram where the best place to eat in Wellington was. One person said the Koru lounge while another person said anywhere in Auckland.
In fact a lot of people made those jokes. There is a strong anti-Wellington vibe around the country and yet, and I guess this is the tourist snapshot problem, one night does not a proper impression make. &nbsp; There were all those international travellers that talked about how fabulous the world was and how miserable New Zealand is when we went around the world the other day. I think we busted that myth because any place, when you are in a hotel or in a restaurant without a care in the world, seems better than home.
But it doesn’t mean they don’t have their issues.
Wellington seems like a good looking town. The hospitality scene, despite all you hear, on Saturday night was overflowing. It was busy, it was bustling and as I sat in the restaurant for breakfast at seven o'clock yesterday morning there was a lot more action out and about than you ever see in a place like Christchurch and Auckland at that time on a weekend.
And that’s before you get to the joggers on Evans Bay Parade running into a southerly and seven degrees. You've got to love that.
Wellington the image and Wellington the reality is not the same thing.
LISTEN ABOVE

Mike's Minute: Does Wellington deserve it's reputation?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/8dcb7e86-7107-4bc3-b8da-b47e0161695d/transcript

On the Mike Hosking Breakfast Full Show Podcast for Monday the 6th of July, we hear National's trade election policy and the warning from the U.S about an impending Russian attack of Poland.

The PM is in and reviews Mike's Wellington trip, the U.S Ambassador's comments and Modi's impending visit.

Jason Pine and Andrew Saville rate the All Blacks first hit out, the Silverstone race and Lawson's result and the World Cup.

Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.

On the Mike Hosking Breakfast Full Show Podcast for Monday the 6th of July, we hear National's trade election policy and the warning from the U.S about an impending Russian attack of Poland.
The PM is in and reviews Mike's Wellington trip, the U.S Ambassador's comments and Modi's impending visit.
Jason Pine and Andrew Saville rate the All Blacks first hit out, the Silverstone race and Lawson's result and the World Cup.
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.

Full Show Podcast: 06 July 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ec74570a-a929-44ae-91c0-b47e015d6d5b/transcript

ASB's latest outlook says New Zealand's economic recovery is back on track.

Inflation is expected to hit 4.1% in Q2, but the bank says the overall economic picture as "markedly improved".

ASB Chief Economist Nick Tuffley told Mike Hosking that, "We do think it will still be tight, but we do think that the Reserve Bank will lean on remaining on hold."

LISTEN ABOVE

ASB's latest outlook says New Zealand's economic recovery is back on track.
Inflation is expected to hit 4.1% in Q2, but the bank says the overall economic picture as "markedly improved".
ASB Chief Economist Nick Tuffley told Mike Hosking that, "We do think it will still be tight, but we do think that the Reserve Bank will lean on remaining on hold."
LISTEN ABOVE

Nick Tuffley: ASB Chief Economist predicts Reserve Bank will hold

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9cbc9cc9-f408-4388-aea9-b47e015ef048/transcript

Vittoria Shortt: ASB Chief Executive on the OCR dropping by 50 basis points

In 1 playlist(s)

The Mike Hosking Breakfast

Social links

Follow podcast

Recent clips