During his state of the nation speech Prime Minister Christopher Luxon announced a new foreign investment agency with the aim of driving more overseas revenue to our shores and boost local economy and productivity.

It's a model based on Ireland and Singapore and will see Invest New Zealand become part of New Zealand Trade and Enterprise, which itself is set to become an autonomous crown entity.

Executive Director of the New Zealand Initiative Oliver Hartwich has been advocating for a model like this for more than a decade and says he took Luxon on a trip to Ireland to show how a model like theirs could work locally.

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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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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, Inflation hasn’t dipped as expected so what will that mean for next month’s OCR announcement? Electronic card spending is up, but retailers are still doing it tough, plus we touch on the first episode of The Prosperity Project Podcast and how to nail your 2025 financial goals.

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.

If your enthusiasm to maintain your “New Year, new me” financial goals is starting wane already, you’re not alone – most resolutions are abandoned by February!

But experts in finance and psychology say there’s both art and a science to setting financial goals and adopting the behavioural change that helps you stick to them.

Join Nadine this week as she discusses how to stick to your financial goals in 2025 with EnableMe's Hannah McQueen and clinical psychologist Jacqui Maguire. 

If you have a question you want answered, or a financial story to share, get in touch at [email protected] 

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.

Confidence another substantial Official Cash Rate cut's on the cards, with today's figures showing inflation is still under control.

Stats NZ says the rate for the year to December remained unchanged at 2.2 percent.

Inflation is well down from the 2022 high of 7.3 percent, but still higher than the 1.5 percent reached in 2021.

Infometrics Chief Forecaster Gareth Kiernan says he's confident the Reserve Bank will slice 50 basis points from the OCR in February.

"Non-tradeable inflation is still coming down - there's risks on the tradeable side, but I don't think there's enough there to sway the Reserve Bank towards going with a smaller 25 point cut."

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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.

New reports indicate the Indian Government is sounding out the nation's biggest businesses to determine how they feel about a trade agreement with New Zealand.

The Indian Government reportedly sent an email to members of the Federation of Indian Chambers of Commerce and Industry asking for feedback on the idea of starting negotiations with NZ on a free trade agreement.

India NZ Business Council chair Bharat Chawla explains what this could mean going forward.

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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 a belief we're still yet to reap the benefits of having inflation under control. 

Latest Stats NZ figures show the inflation rate for the year to December was 2.2%, unchanged from September. 

Inflation is well down on the once-in-a-generation high of 7.3% of just two and a half years ago. 

The Herald's Liam Dann told John McDonald we're still yet to see many prices come down. 

He says rents are still up for example, but they should be coming down with a struggling property market. 

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Stats NZ will release Consumer Price Index inflation numbers for quarter four on Wednesday, and economists are predicting it will be within the Reserve Banks's target range of 1 - 3%

It comes off the back of December card spending numbers which saw retail spending increase by 2%

NZ Institute for Economic Research Deputy Chief Executive Christina Leung says they're expecting a rise of 0.6% for the quarter, and put annual inflation at 2.2%

She says today's numbers shouldn't change the chances of a rates cut in February, expected to be 0.5%

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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.

Economists have revealed retail spending numbers were better than expected for the month of December.

The total value of electronic card spending, including in non-retail services and other non-retail categories, rose a seasonally adjusted 1.5 percent to $9.23 billion in December from November, according to Stats NZ. 

That brought total spending in line with levels last seen in November 2023.

Infometrics Principal Economist Brad Olsen says this is a sign green shoots are returning to the economy.

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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.

Nicola Willis says her new role in Cabinet is all about driving New Zealand's growth. 

The Finance Minister has been given the Economic Growth portfolio, formerly known as the Economic Development portfolio

It's been taken off Melissa Lee - who's been stripped of all ministerial responsibilities.

Willis says she'll now be taking the lead at the Ministry of Business, Innovation and Employment. 

"Through that role, I will be making sure that we're responding to businesses, industries, small business owners about what they need to have the confidence to be investing, to be hiring."

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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.

ASB has cut its 18 month fixed term loan rate to 5.39% following cuts by Westpac and BNZ.

All three of the banks' six-month rates are now at 5.99% as they fight to be the bank of choice for mortgages. 

This comes alongside rumours of a foreign buyer ban reversal - with experts saying it could work, but rules need to be more flexible. 

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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.