The SME Stream

Economists are questioning Treasury's 'worst case' economic forecast from the Iran war.

It predicts a worst case scenario of inflation hitting 3.7 percent this year - if the conflict persists.

Independent economist Cameron Bagrie says he doesn't think Treasury has properly taken into account businesses feeling the second-hand impact of rising fuel prices.

"If they've got a reason to push up prices under the guise of what's going on in Hormuz around the globe, firms are going to use that excuse and try to jam in some price rises. We've seen it before."

LISTEN ABOVE

See omnystudio.com/listener for privacy information.

Transporting NZ CEO Dom Kalasih says diesel price increase in Australia is lower

See omnystudio.com/listener for privacy information.

The conflict in the Middle East is continuing on for another week, and it's got experts concerned about the economic impacts.

Iran's blocking shipping in retaliation for the US and Israel bombardment - sending oil prices spiking.

Milford Asset Management expert Michael Luke explained how markets have continued to drop.

LISTEN ABOVE

See omnystudio.com/listener for privacy information.

Economists are predicting promising economic results from the last quarter ahead of the ongoing ripple effects caused by war in the Middle East.

GDP data for the December quarter is being released just before 11 this morning.

Both Westpac and ASB are anticipating 0.4% quarterly growth.

ASB Chief Economist Nick Tuffley told Mike Hosking exports have largely been the driver. 

But Tuffley says recovery has been uneven, pointing to a weaker construction sector. 

LISTEN ABOVE 

See omnystudio.com/listener for privacy information.

Westpac's chief economist is still holding out hope New Zealand will weather financial headwinds from the Iran war. 

Stats NZ's releasing data for the December quarter just before 11am.

Westpac and ASB have forecast 0.4% quarterly growth, while BNZ and Kiwibank suggest 0.3% and ANZ 0.2%.

Kelly Eckhold told Ryan Bridge everyone's looking forward to the conflict's impacts, but he's optimistic. 

He says we have strong commodity prices and the exchange rate's helping us out, meaning we're better placed than we could have been. 

LISTEN ABOVE

See omnystudio.com/listener for privacy information.

Financial education is now embedded in maths classes for students in years 0-10, and from next year it will also form part of the social sciences curriculum. Until this year, financial education in schools has been haphazard, with research showing only 20 percent of students received it in some form.

Sorted in Schools learning lead Yasmin Frazer joins Nadine to discuss what our kids are being taught about money and why we need to be careful around money conversations at home. 

See omnystudio.com/listener for privacy information.

Inflation could hit 3.7% under Treasury’s ‘worst-case’ inflation scenario. 

It’s while petrol prices have risen about 45 to 50 cents a litre, adding about $23 to the price of filling an average car.  

Finance Minister Nicola Willis has outlined the government's priorities - First a focus on supply chains, then potential and anticipated freight disruptions, and lastly our economic response.   

Ministers are meeting daily, written situation updates twice-daily, they’re working closely with importers – we're being told not to panic. 

But, after criticising the last government to no end about its economic decisions during the pandemic - what tools does this government have to ease cost-of living pressures? 

Today on The Front Page, NZ Herald business editor at large Liam Dann is with us to talk through what we could do next. 

Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts.

You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network.

Host: Chelsea Daniels
Editor/Producer: Richard Martin
Producer: Jane Yee

See omnystudio.com/listener for privacy information.

See omnystudio.com/listener for privacy information.

See omnystudio.com/listener for privacy information.

A top economist advises thinking about working from home to save fuel.

Iran's maintaining its chokehold on the Strait of Hormuz - retaliating to the continued bombing assault by the US and Israel.

It's led Sri Lanka to move to a four-day working week from tomorrow. 

Westpac economist Kelly Eckhold says unless things change quickly, something will have to be done within the next three weeks. 

"Through the Covid period, we were able to save quite a lot of fuel with the hard lockdowns. We're not going to save anywhere near that amount, but it'll certainly help provide more fuel for the higher-priority users of it." 

LISTEN ABOVE

See omnystudio.com/listener for privacy information.