Podcasts about Bnz

Welcome into episode fifty with Bum N' Zilly! Lots of silly sports talk this week and the brothers are here to navigate you through it all. Come buckle up and let me ask you one question. How you doin!? 2:21 Show Intro 2:56 Breakfast at DQ 4:23 Episode line up and some comments 9:06 Update on Zilly's tooth 12:46 Twins vs Mets game 318:15 Twins at Braves game 123:19 Twins, Braves game 229:25 Twins, Braves game 3 32:44 Mr. Freeze 34:10 Twins vs White Sox game 141:34 Keaschall gets the gold star 42:15 Pups and Lakers playoff games review 52:30 Charles and Shaq 53:27 NFL Draft talk1:01:43 PGA 1:02:30 Wrestlemania 41 night 1 recap1:12:10 Kirby Joseph gets the bag?1:13:16 Back to the Wrestlemania 41 recap 1:18:25 Heyman and Cena on the Pat McAffe show 1:19:38 Rollins and Heyman forming a new faction1:20:53 Grading out the matches and best entrance of Wrestlemania 41 night 1 1:22:15 The BnZ special results and game picks for next week 1:26:03 NHL trivia question result and outro       Want to get your thoughts involved with the podcast?Check us out on Twitter/X @BumNZillyshowEmail at rtonykisor@gmail.com

The BNZ's head of research, Stephen Toplis,looks ahead to today's GDP figures which are expected to show the economy inched out of recession.

Swindles, scams and deception take centre-stage at Wellington's highly specific documentary film festival The Wellington Fraud Film Festival will showcase a collection of documentaries covering all types of deceptions. It's a topic that's become increasingly relatable for New Zealanders.Next Monday in Wellington, some 150 people will fill the Roxy Cinema for a niche documentary film festival. But they won't be the usual film festival crowd of movie buffs - they'll be lawyers, police officers, bankers, and anyone else whose work deals with scams or fraud.The Fraud Film Festival, an offshoot of the original version of the festival in the Netherlands, has been running in New Zealand since 2016. On the surface, it seems extremely specialised. But in reality, fraud is something that touches most people - a BNZ survey last year found that 87 percent of New Zealanders were targeted by scams in the 12 months prior…Go to this episode on rnz.co.nz for more details

In banking, New Zealand First has promised to stop "woke ideology" after the BNZ decided to pull back its lending to petrol stations. Climate change correspondent Eloise Gibson reports.

From the “here we go again” file: we are being lined up once more for another winter of shonky power supply. A deal has been done again with Tiwai to cut production. Oh, the irony in a country that is supposed to be focused on growth, growth, growth. Mercury is the bearer of the glad tidings that the power price is heading north by an average of 10%. Why? Because we don't make enough power. We are hopelessly reliant on rain and we stopped looking for oil and gas. We didn't get enough windmills and solar panels up. So we are short. We were also short last year, and the year before. The spot price is about $200, not the $800 it was for a time last year. But it's well north of what it should be. Yet again the year has started dry, but in a reassuring sign of expertise in meteorological minutiae, the power company said there's still plenty of time for it to rain. So that's okay then. Cost plus accounting is not confined to councils. Power companies do it too. We are paying for the windmills whether we want them or not. A lot of the renewable investment is not about it solving the problem, because it doesn't automatically, at least not in a sensible, cost effective way. What a lot of it is about is wokeness and being seen to be part of the Paris crowd. The same way the BNZ likes to haunt petrol stations, power companies like to gouge us for their green credentials. Like banks, there is an argument we are not well served by these big gentailers who, in simple terms, are not doing their job. What is their job? Power. Is there enough power? No. Was there enough last year? No. Is it good enough in 2025 in a country economically on its knees looking for growth, growth, growth? No.See omnystudio.com/listener for privacy information.

Another large cut to the Official Cash Rate's on the cards today. Economists and markets are almost certain the Reserve Bank will slash the OCR by 50-basis points. That would take the cash rate from its current 4.25% to 3.75%. BNZ Chief Economist Mike Jones told Mike Hosking that things are tracking as the Reserve Bank expected when they last met in November of last year. He says that in that meeting, the Reserve Bank essentially said they would cut 50 points unless something threw them wildly off track, and he doesn't believe that's happened. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Kevin Milne had a bit of a run in with some credit card fraud last weekend. Upon trying to make a few purchases, he found his card blocked due to 7 suspicious attempts to withdraw money stemming from the US. He joined Jack Tame for a chat about the experience and the lessons he learnt. LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Friday 31st of January, we have years of backlogged primary industry health products in need of approval – David Seymour responds to the situation. A leaked letter has revealed that BNZ is dropping a fuel company from their bank and closing their accounts, Todd McClay digs into the situation. The Wrapping the Week A-team is back with Kate Hawkesby and Tim Wilson, who sneak in an appearance before the end of January. Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Cautious optimism from economists ahead of the latest inflation numbers. Stats NZ will deliver its latest inflation update on the year to December at 10.45 this morning. Many economists expect it to be slightly down, but ANZ predicts it will remain unchanged and BNZ is forecasting a slight rise. ASB Chief Economist Nick Tuffley told Ryan Bridge we need to still be cautious as domestic inflation remains relatively high. He says for inflation to stay around 2% the domestic rate needs to come down. LISTEN ABOVE 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. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The government's plan for new Interislander ferries doesn't seem to be much of a plan at all - with no new ships or details on what they'll cost. Has the government dropped the ball? Also, fuel company Waitomo and other independent service station owners say BNZ has told them there'll be no more loans and all outstanding debt must be paid by 2030 - a policy of the BNZ to meet their net zero targets. But BNZ says the decision is simply one of risk. Is it fair for BNZ to de-bank these customers? To answer those questions, Green MP and transport spokesperson Julie Anne Genter and Iron Duke Partners managing director Phil O'Reilly joined Nick Mills for Friday Faceoff. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's concern among petrol station owners, following BNZ signalling its lending period for fossil fuels is ending. BNZ has informed one business lending to petrol store owners will end - and the bank needs all debt repaid by 2030. The bank says it's an economic decision, as they're foreseeing people switching to electric vehicles. An anonymous owner of multiple rural petrol stations says the decision hurts farmers, who will still need diesel. LISTEN ABOVESee omnystudio.com/listener for privacy information.

A significant decision from the Court of Appeal could see Gloriavale shut down its' operations for good. The court has thrown out an injunction that prevented BNZ from closing the West Coast Christian community's accounts. BNZ attempted to stop doing business with Gloriavale in 2022, after the community's child labour usage breached its human rights policy. NZ Herald Wellington business editor Jenee Tibshraeny unpacks the wider implications of this verdict. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's concern among petrol station owners, following BNZ signalling its lending period for fossil fuels is ending. BNZ has informed one business lending to petrol store owners will end - and the bank needs all debt repaid by 2030. The bank says it's an economic decision, as they're foreseeing people switching to electric vehicles. An anonymous owner of multiple rural petrol stations says the decision hurts farmers, who will still need diesel. LISTEN ABOVESee omnystudio.com/listener for privacy information.

A significant decision from the Court of Appeal could see Gloriavale shut down its' operations for good. The court has thrown out an injunction that prevented BNZ from closing the West Coast Christian community's accounts. BNZ attempted to stop doing business with Gloriavale in 2022, after the community's child labour usage breached its human rights policy. NZ Herald Wellington business editor Jenee Tibshraeny unpacks the wider implications of this verdict. LISTEN ABOVESee omnystudio.com/listener for privacy information.

 The Court of Appeal has disposed of an injunction preventing the bank from closing accounts related to Gloriavale's various businesses and entities. Gloriavale now has three months to tidy up its affairs with BNZ. After that, members have said that without bank accounts, the continued existence of the community will be at risk. Anna Sargent reports.

The legal expert leading the team representing Gloriavale leavers is calling on the Government to act now and protect the victims of the community. BNZ has been given clearance to close Gloriavale's bank accounts after the Employment Court found a number of former members had worked since the age of six - with many subjected to physical punishment. Lawyer Brian Henry says the residents of the community need to be freed from the 'tyranny' of the leaders and given a new start in society. "There are people inside there who need to be freed from the tyranny of what's going on there and re-set up in society where they get a decent education for their children - and they have the opportunity to live life as free people." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Yesterday a long running court case came to an end – at least for now. BNZ has won permission to shut down Gloriavale's bank accounts. Now I actually feel quite uncomfortable about this. I'm no fan of Gloriavale – I'd like to see the place close and the people there realise how weird their situation is. So I should, on the face of it, like what BNZ is doing because it will effectively, probably, shut down Gloriavale. Because without a bank, how can Gloriavale continue? No one else will bank them – they've tried, no other bank will take them. This is why they took the court case, to try to force BNZ to keep their bank accounts open, because without it, they basically can't do business anymore. They can't do anything really, because in a modern world you can't survive without a bank account. It's how you get paid, how you pay your power bills, how you get a mortgage to buy a house, how you order things from overseas. But I still don't think this is the right thing, because of the precedent this sets. Banks can shut your account if they don't like what you're doing —doesn't have to be criminal— and there's too much of this moral policing already. Australian banks here are imposing penalties on our dairy farmers who they don't think are cutting emissions by enough. Kiwibank's pledged to stop banking coal mining businesses. BNZ won't let a couple of women running a sex toy shop open bank accounts because they sell sex toys. There is a massive debunking scandal playing out in the US where even Melania Trump reckons her account was shut down after the Jan 6th riots. And to be fair to banks, it's not as if this is new. Remember they wouldn't let women take out mortgages unless a male relative said it was okay as recently as the 1980s. I get that it's a bank's right to stop doing business with whoever it wants to, I just don't like the bank's reason. Because if it's Gloriavale today, a couple of girls selling sex toys tomorrow, who comes next? See omnystudio.com/listener for privacy information.

Surely this is the final straw for Gloriavale. Or, more to the point, surely it's the final straw for the Government. Because it is absolutely shameful that it still exists. This final straw, by the way, is the Court of Appeal ruling announced yesterday that the BNZ has every right to close the community's bank accounts. For the simple reason that it doesn't want to do business with them anymore. And good on the Court of Appeal. More to the point, good on BNZ, which could turn out to be the outfit which does the most for those poor sods stuck there. It will probably also force the hand of all those businesses on the West Coast that have been quite happy to turn a blind eye, as long as they get to do business with them and make a crust. Because aside from being a place where kids are treated like slaves, where women are treated like sex slaves and lord knows what else, it is also a large business. A large financial entity which includes two trusts and 13 companies. And there are many people who have done alright out of Gloriavale. They've made money servicing their property and everything else that needs doing at a place like that. But for how much longer? The lawyer representing the people who have escaped the place and who took Gloriavale to court for ripping them off with all the crazy work hours is saying today that Gloriavale should be shut down. He's putting responsibility for that on the Government. I would like nothing more than for that to happen, but I'm not sure whether the Government actually has any powers to do that. But either way, this has to be one of this country's greatest embarrassments. That, for years now, concerns about Gloriavale have been raised and —aside from the odd court case where creeps who have committed sex crimes have been hauled before the courts— Gloriavale's been allowed to just keep on keeping-on. What happened, which led to yesterday's ruling, is BNZ told Gloriavale that it wanted to close all of its accounts – citing its human rights policy. Gloriavale said ‘you can't do that', claiming that if they lost their bank accounts, their whole future would be in jeopardy. So they took the bank to the High Court and managed to get an interim injunction which forced BNZ to keep the accounts open. The idea was that there would be a hearing down the track to decide whether BNZ would be in breach of its contract with Gloriavale if it closed the accounts. But the BNZ wasn't going to sit around and wait for that to happen, and it went to the Court of Appeal. The Court of Appeal considered the case and released its finding yesterday that BNZ has every right to choose who it does and doesn't do business with. The fact that it has a human rights policy makes it pretty clear, I reckon. Although I bet there will be some people going through BNZ's list of other clients to see if it's following its human rights policy to the letter and isn't just singling-out Gloriavale. But I wouldn't even care if the BNZ was singling-out Gloriavale because that place needs to go. And if shutting down its bank accounts is one way to force it out of existence, then bring it on.See omnystudio.com/listener for privacy information.

Mortgage holders have been hoping the banks will pass on the latest 50 basis point cut to the OCR - but many will have to wait. New Zealand's major banks have all cut their floating rates, but only ASB's fixed-term mortgage rate has moved down so far. Mortgage advisor Bruce Patton says the banks had largely predicted the OCR would drop by 50 basis points - and priced their earlier cuts accordingly. "We saw a few banks move a few days before, we saw the BNZ come down from 6.49 to 5.99 on the Monday before the OCR was even announced. A lot of the rates had already moved." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Some positive news for mortgage holders. The Reserve Bank has cut the Official Cash Rate another 50 basis points to 4.25 percent. ANZ, ASB, BNZ, Kiwibank and The Cooperative Bank have all lowered their rates in response. NZ Herald business editor at large Liam Dann says the central bank is pointing to a few more cuts over the next six months. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Some positive news for mortgage holders. The Reserve Bank has cut the Official Cash Rate another 50 basis points to 4.25 percent. ANZ, ASB, BNZ, Kiwibank and The Cooperative Bank have all lowered their rates in response. NZ Herald business editor at large Liam Dann says the central bank is pointing to a few more cuts over the next six months. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Reserve Bank is widely expected to cut the Official Cash Rate today from 4.75% to 4.25%. It was cut by the same margin in October. ANZ's already cutting most of its home loan rates ahead of this afternoon's decision. BNZ Chief Economist Mike Jones told Ryan Bridge he can see some of the logic for a 75 basis point move. But he says those big moves tend to be reserved for crisis situations, and we're not in one of those. LISTEN ABOVE See omnystudio.com/listener for privacy information.

One retailer wants to know why shops are carrying the losses, when they're hit by credit card fraud and not the companies, whose cards are being used for the dodgy transactions. Earlier this month a customer spent about $3000 on gift vouchers and goods, at Cactus Outdoor, a clothing and outdoor equipment shop in Ponsonby, Auckland. He paid with a Visa. CCTV seen by Checkpoint shows the man apparently tapping a credit card on the eftpos machine and entering a pin number; the transaction goes through. But a few days after the sale, the card holders bank, BNZ contacted the store and said it was a "card not present transaction" and the $3000 spend was not inititated or authorised by the cardholder, it took the money back out of the shop's banks account. Cactus Outdoor Managing Director Ben Kepes spoke to Lisa Owen.

Kia ora,Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.Today we lead with news dairy prices are still rising.We got an increase in dairy prices at the overnight GlobalDairyTrade auction from the prior event, but it was a small pullback from prices at last week's Pulse event. Overall prices were up +1.9% in USD terms, up +3.6% in NZD terms, so a good result. WMP let the rises with a +3.2% gain, but the main pullbacks were in the cheeses with cheddar down -3.1% and mozzarella down -6.6%. SMP rose +0.9% from the prior full event but was down -1.1% from last week's Pulse event.This is still a good result and will probably encourage some analysts to update their new season payout forecasts, just as BNZ analysts did last week. The possibility of a $10/kgMS payout is still in play after these results.Holding the WMP prices up is the unexpectedly sticky fall in Chinese milk production (due to low profitability) and a rather steep and unexpected fall in their WMP inventories. This will underpin WMP demand for a while and rising New Zealand production will bring a virtuous tone to the party as well.In the US, although the average American voter may have voted 'negative', they are acting 'positive' in their spending with the Redbook retail sales growth up +5.1% last week from the same week a year ago. And those sort of gains are what giant Walmart is racking up. (Presently, these gains are essentially volume gains. But of course, if the US gets aggressive tariffs, price rises will drive these numbers higher with inflation.)US housing starts hit a bump in the road in October, down -3.1% to just over a +1.3 mln starts (annualised rate), but the fall was because construction activity fell sharply in the South due to their hurricanes. Obviously that will recover soon for the same reason. But in the background it is generally challenging for house builders because mortgage interest rates are remaining high. Still, sales at a 1.3 mln is about average for 2024.A big question hangs over the US housing markets, both for new and used houses. The incoming Administration seems committed to quitting the two big institutions that make the market for 30 year fixed mortgages, Fannie Mae and Freddie Mac. They tried in the last Trump Administration and were thwarted by Congress, but they seem more determined this time. If that happens it will be an earthquake for housing finance in the US, and probably be the demise of their unique long-term fixed rates.September data released yesterday by the US Treasury shows a huge inflow of foreign funds into the US. There was +US$341 bln of private net flows in the month, plus another +US$57 bln by "official" (government) transactions. This is easily the largest single monthly inflow ever. (For reference, the US Federal Government deficit averaged -US$153 bln monthly in the year to September.)Canadian CPI inflation was up +2.0% in October, a blip up from September's +1.9%. Their food prices were up +2.7% within that, rents up +7.3%. But these were offset by much lower energy costs.After growing rather well in the April to August months, Malaysian export growth as pulled back in September and October with only modest changes. Malaysian import growth is pulling back too, but it this is still expanding at twice the export growth rate.In Hong Kong, the clampdowns on freedoms of expression are getting fiercer. And it is no longer 'legal' to mention Jimmy Lai, let along the umbrella freedom protests.And China is moving to make it an offense to operating in financial markets unless pricing is "rational".In India, they are again battling seasonal air pollution, and it is particularly bad this year, especially in the north.The UST 10yr yield is now at just on 4.39% and down -6 bps from yesterday at this time.The price of gold will start today at US$2623/oz and up another +US$13 from this time yesterday.Oil prices are little-changed, still at US$69/bbl in the US while the international Brent price is still just on US$73/bbl.The Kiwi dollar starts today at 59 USc and up +30 bps from this time yesterday. Against the Aussie we are unchanged at 90.5 AUc. Against the euro we up +20 bps at 55.8 euro cents. That all means our TWI-5 starts today at just over 68.6, and up another +10 bps from yesterday.The bitcoin price starts today at US$92,318 and up +0.3% from this time yesterday. Volatility over the past 24 hours has been modest at +/- 1.7%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

BNZ is to launch an app it says will slash the costs merchants face to take electronic purchases. 

More than 50 percent of some of New Zealand's big companies and government agencies don't have a fair representation of women in the top ranks of their organisations. The group Champions of Change, a collective of more than 80 leading CEOs and Chairs, looks at diversity, equity and inclusion across 62 organisations, surveying an average annual workforce of more than 112,000 workers across Aotearoa. Only six companies from the collective have completely closed the power gap - among them BNZ, Fonterra and Treasury. 11 boards have less than 40 percent representation of women. The collective said it's on target to have a hundred percent of its boards gender-balanced by 2027. Co-Chair for Champions of Change, Roger Gray, who is also CEO of Auckland Port spoke to Lisa Owen.

BNZ is set to head back to court tomorrow as part of their ongoing legal dispute with Gloriavale. If the hearing goes well, the bank could get approval to close the accounts Gloriavale has with BNZ. NZ Herald Wellington business editor Jenee Tibshraeny reveals what could come out of tomorrow's case. LISTEN ABOVE See omnystudio.com/listener for privacy information.

BNZ is expanding its programme of home loans at standard home loan rates for building on iwi land.

BNZ is introducing an online banking lock feature, allowing customers to disable all online banking activity and lock access if they suspect their accounts have been compromised by scammers. BNZ's Head of Financial Crime Ashley Kai Fong spoke to Corin Dann.

In this episode, we discuss how BNZ has just scrapped their standard interest rates, that sometimes force first home buyers to pay more for their mortgages. We discuss whether the devil is in the detail, and what first home buyers and property investors need to know. For more from Opes Partners: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Sign up for the weekly Private Property newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok

BNZ expects house prices to remain flat this year, then lift by seven percent over 2025.   They don't think declines in mortgage rates will cause an immediate jump in the housing market.   But they do expect it'll likely prevent a deeper correction.  Chief Economist Mike Jones told Mike Hosking that it's a pretty average number when you take into account the price increases over the past few decades.  He said forecasting 12 months in advance is always a tough ask, but when they factor in the changing fundamentals, such as lower mortgage rates, and match them up against things like the economy and the labour market, an upturn in house prices seems likely.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

BNZ's performance of services index - which measures sentiment across services firms - was up 3.9 points to 44.6 in July from a rock-bottom level of 40.7 in June. While it's better than June it's still a very low result - a result below 50 indicates activity is contracting for the fifth straight month. Harbour Asset Management's Shane Solly explains how this adds to the proof that the Reserve Bank needed to cut the OCR. LISTEN ABOVESee omnystudio.com/listener for privacy information.

For the first time in four years the official cash rate was cut by quarter of a per cent with the central bank governor Adrian Orr saying it was time to take the foot off the economic brake.Stephen Toplis is head of research at BNZ.

Three major New Zealand banks have slashed their rates ahead of next week's OCR review. Both Kiwibank and BNZ have urged the Reserve Bank to cut the cash rate down - months ahead of predicted forecasts. Infometrics Principal Economist Brad Olsen explains why there's a case for the Reserve Bank to move quicker. LISTEN ABOVESee omnystudio.com/listener for privacy information.

BNZ and KiwiBank are the latest banks to announce cuts to mortgage rates.  ANZ and Westpac had already dropped rates earlier in the week, leaving ASB as the last remaining big bank to hold back cuts at this state.  Finance and Mortgage Advisors Association country manager Leigh Hodgetts joined Jack Tame.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Big Truss Tuesday What is the perfect sound... Brook was set on the sound of a swishing basketball net but now he isn't sure... We asked on the Shifters page what topics you wanted to be touched on, today the boys dive into a couple of them... Guess who's back... Survival Of The Littest!!! With the help of BNZ we catch up with Mother and Daughter duo Jody Cameron and Jaycin Tini from the Northern Kahu... Hit that link below to stay caught up with anything and everything TMS. https://www.facebook.com/groups/3394787437503676/ We dropped some merch! Use TMS for 10% off. Here is the link: https://youknow.co.nz/collections/tms-merch-v2 Special discount code for Shifters on FB page - "Shifter20" for 20% off every order from www.theavotree.co.nz until the end of August Thank you to the team at Chemist Warehouse for helping us keep the lights on, here at The Morning Shift... https://www.chemistwarehouse.co.nz/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Gloriavale has taken a knock in its battle to maintain access to banking services. BNZ has been trying to close Gloriavale's accounts for the last two years, and the Court of Appeal is allowing BNZ to challenge that injunction. NZ Herald Wellington business editor Jenee Tibshraeny explains what comes next in this case. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Big Truss Tuesday Story time with Matua Marc... Who is your Mount Rushmore of Supervillains... Shifters we need some help with name suggestions for this new segment... and we have some more exciting news to share with you from our new partnership with BNZ!!! Hit that link below to stay caught up with anything and everything TMS. https://www.facebook.com/groups/3394787437503676/ We just dropped some merch! Use TMS for 10% off. Heres the link: https://youknow.co.nz/collections/tms-merch-v2 Thank you to the team at Chemist Warehouse for helping us keep the lights on, here at The Morning Shift... https://www.chemistwarehouse.co.nz/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Banks are split over what today's GDP figures will show.   Stats NZ will release the data for the first quarter of the year this morning.   Westpac, BNZ, and Westpac are picking a small contraction, while ANZ and ASB are picking a small expansion.   Westpac Senior Economist Michael Gordon told Mike Hosking that everyone's in a similar range, slightly above or slightly below zero.   He says it's when we've had strong population growth which should provide a baseline of growth, but it seems we're going backwards in per person terms.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Bank of New Zealand is extending the opening hours of part-time branches.  The bank put an emphasis on call centres and digital services after closing 38 branches during the height of the pandemic.   BNZ Chief Executive Dan Huggins told Jack Tame “We've heard from our customers – particularly small businesses – that they want to talk to our people more often”  Huggins said “four or five years ago, we saw a demand for digital – now we've taken the feedback, we're putting more people into our branches.”  LISTEN ABOVE. See omnystudio.com/listener for privacy information.

The Bank of New Zealand has done a u-turn in its position on physical branches - saying customers want more face-to face interactions. BNZ closed 38 branches across 2020 and 2021 - and it reduced opening hours at many branches since in recent years. BNZ now says it is bringing back the 'branch experience' and touting that all of its stores will be open at least five days a week from April next year. It says while there's been a shift to banking online and over the phone, following the pandemic customers have shown a desire for more face-to-face interactions. Chief executive of BNZ, Dan Huggins, spoke top Kathryn.

ASB is the latest major New Zealand bank to drop their mortgage interest rates for three and four year terms. This follows BNZ and Kiwibank bringing down their interest rates, as wholesale rates have trended down. NZ Herald business editor at large Liam Dann explains why these banks are making these moves, despite the RBNZ holding rates steady. LISTEN ABOVESee omnystudio.com/listener for privacy information.

We're never going to let go of our notes and coins - so the Reserve Bank is not only looking at digital currency for the future, it's also trialling cash services for small towns

BusinessDesk editor, Victoria Young crunches the numbers as Westpac and BNZ post their six-month results, with other major banks expected to follow.

The Banking Association says there is indeed competition in the market.   A draft report from the Commerce Commission has found a two-tier system divides smaller banks from ANZ, ASB, BNZ, and Westpac, as well as a lack of competition.  It says an apparent focus on profit margins has resulted in under-investment in platforms and low innovation.  It recommends the Government improve capital for Kiwibank and smaller banks.   Banking Association Chief Executive Roger Beaumont told Mike Hosking that the commission also recognised the impact of industry regulation.   He says the regulation banks have been required to do is off the charts and has been a handbrake on innovation.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A new collaboration between the BNZ and Ngāti Whātua Ōrākei in Auckland means that for the first time, home loans at standard home loan rates, are being made available for building on iwi land.

Economists are predicting inflation will slow to its lowest level in two years, with the figures for the last quarter of 2023 out Wednesday morning. Consumer prices are expected to have slowed to 0.5 percent in the three months to December, with fuel, food and air fares all dropping in price. The annual inflation rate is tipped to drop below 5 percent to 4.7 percent. But stubbornly high rents and rates are still driving inflation. BNZ economist and head of research Stephen Toplis spoke to Corin Dann.

The government's books were opened up yesterday and it's not a pretty picture. Treasury is forecasting an economy facing two years of sluggish growth, rising unemployment and a prolonged contraction in real GDP per capita growth which signals a decline in living standards. Inflation is the one possible bright light - expected to fall to 4.1 per cent next year and 2.5 per cent in 2025, although the Reserve Bank Govenor Adrian Orr says it continues to be a struggle to contain core inflation. A weaker economy since the last update in September has seen the tax take fall by $1.6b over the forecast period, and expenses have grown, mainly thanks to more borrowing and higher interest costs. In response, the Finance Minister Nicola Willis outlined a range of cost savings and new revenue totalling $7.5 billion over the next five years - which she says is the beginning of the fiscal clean up. Kathryn discusses with Stephen Toplis, head of research at BNZ.

Ya Welcome Wednesday - Shifters worst ever "Secret Santa" gifts, Aunty AI gives us all little free counselling, what did you misplace but found again later? (BNZ Flexi Debit Visa) BNZ Standard T&Cs and fees apply. Available only on a compatible device and operating system. Accepted anywhere you can make contactless payments. If your card is lost or stolen, please notify BNZ immediately.and the Mens Den - Thanks to Speights Summit Ultra - Helping mates be better mates! Forgiveness and parenting!We just dropped some merch! Use TMS for 10% off. Heres the link:https://youknow.co.nz/collections/tms-merch-v2