The banks are at it again. 

ASB is slashing its rates this morning following a move by Westpac yesterday afternoon. 

Many borrowers have been moving to floating or short-term fixed rates, anticipating further OCR cuts. 

But latest forecasts show bank economists now expect the Reserve Bank to start hiking the OCR again next year. 

Infometrics Principal Economist Brad Olsen told Tim Beveridge the latest changes to advertised rates are driven more by bank competition, than by the Reserve Bank. 

He's expecting a lot of competitive pressure between the banks this year as they jockey for market position. 

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts. 

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The strong US jobs report is out and raising questions about further interest rate cuts.

A quarter of a million jobs were added to the market in December, causing the unemployment rate to drop to 4.1%.

As employment rose stock prices fell as a result of such strong labour market data.

Economist Brad Olsen joins the show to discuss how this will affect New Zealand, the Prime Ministers trip to the UAE and oil prices rising 3% over the weekend.

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts. 

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Businesses are feeling optimistic they could be in for a better 2025.  

The latest Quarterly Survey of Business Opinion from the Institute of Economic Research reveals a net 9% of firms are expecting general economic conditions to improve.  

This is a jump from a net 4% feeling downbeat three months prior. 

Infometrics’ Brad Olsen told Tim Beveridge that it’s definitely a good sign, however at the same time, around 26% of businesses said they had less business activity in the December quarter. 

He says this could indicate the recession continued through until the end of the year. 

Olsen says there’s quite a clear feeling that while last year was tough, there are better things to come. 

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts. 

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Job numbers have picked up slightly, but not everyone's benefiting. 

Latest figures from Stats NZ show the number of filled jobs rose slightly in November, for the first time in eight months. 

Service sector jobs rose but primary industries and goods industry jobs declined. 

Infometrics’ Brad Olsen told Tim Beveridge that it’s a bit early for it to be fully sustainable, but there is a definite shift. 

He says it’s early signs of better thing to come for the economy in 2025. 

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts. 

See omnystudio.com/listener for privacy information.

As business owners, you know how hard it is keeping up with your business, let alone the news. Join Wilhelmina Shrimpton each week as she gives you a rundown of the biggest stories that could impact on your business, so you can make informed decisions with expert advice. 

In this weekly wrap, businesses across the country are feeling positive about the year ahead, what can we expect from property prices in 2025 as interest rates continue to fall, plus what’s happening with inflation as we prepare for the latest figures to be released next week.

The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

See omnystudio.com/listener for privacy information.

Resident Economist at Opes Partners, Ed McKnight, joins Tim Beveridge with predictions for the property market in 2025. 

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts. 

See omnystudio.com/listener for privacy information.

There's uncertainty if the Reserve Bank will change tack following the revelation of New Zealand's deep recession. 

Stats NZ figures out yesterday show GDP fell 1% in the three months to September. 

It’s also revised the preceding quarter down to 1.1% contraction. 

Former Reserve Bank Economist Michael Reddell says it did achieve its goal of bringing inflation under control. 

He told Heather du Plessis-Allan he doubts they'll ramp up the size of OCR cuts next year in response to the recession. 

Reddell says it's more likely they'll go ahead with a 50 basis point cut, then tail them off next year. 

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

See omnystudio.com/listener for privacy information.

Over in the US, share prices have slumped after the US Federal Reserve hinted at a slower than expected pace for rate cuts in the new year.

The Federal Reserve set its key lending rate in a target range of 4.25 percent to 4.5 percent - down a full percentage point since September.

Fisher Funds expert Sam Dickie explains further.

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

See omnystudio.com/listener for privacy information.

Tonight on The Huddle, Jordan Williams from the Taxpayers' Union and former Labour Cabinet Minister Stuart Nash joined in on a discussion about the following issues of the day - and more!

The Government is looking to strengthen free speech at universities. Should universities be allowed to decline hosting controversial speakers?

It's been a dire week for the economy - with today's GDP results revealing we're in the worst recession since 1991, excluding the Covid-19 lockdowns. Can we get back on track? Can we acknowledge some bad decisions were made by the Reserve Bank? 

The holidays are getting closer - is it okay to drop by a friend's house unannounced?

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

See omnystudio.com/listener for privacy information.

People will have questions, after one of the country's worst quarterly GDP dips in decades.

Stats NZ figures show New Zealand's gross domestic product crashed down one percent in the September quarter.

It's put the country in the deepest recession since the Covid-driven slump in 2020. 

Former Finance Minister Steven Joyce says the Reserve Bank Governor, Adrian Orr, needs to speak up and explain.

"I think there is some legitimate questions to be asked - I can remember, quite recently, him saying he's got it all under control and that this is going to be a soft landing. Well, quite clearly, it wasn't." 

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The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

See omnystudio.com/listener for privacy information.