Episodios

  • Today in Business: October 8, 2025

    Today in Business: October 8, 2025
    Oct 8 2025
    Welcome to Today in Business - Powered by Spark for Business, an experimental AI podcast by the New Zealand Herald.
    Each weekday, we bring you five stories, the best of the New Zealand Herald business journalism, summarised and delivered by an AI voice as an easily digestible recap.
    It's Wednesday, October 8, 2025, and here are five stories you should know about.
    The Reserve Bank's cut the Official Cash Rate by 50 basis points to 2.5 percent in its latest Monetary Policy Review this afternoon. The Monetary Policy Committee reached a consensus on the reduction, noting it remains open to further adjustments if needed to keep inflation near the 2 percent target. Economist Kelvin Davidson says the move is "shock treatment" to help restart the economy. ASB chief economist Nick Tuffley says inflation pressures appear weaker than expected. Following the announcement, the S&P NZX50 Index rose to 13,621, close to its all-time high.
    In other news, Cooks Coffee Company's signed a partnership agreement with Tesco Ireland to open five Esquires cafes inside supermarkets by November. The dual-listed company operates 108 Esquires stores across 10 markets, mainly in Europe and the Middle East. Executive chairman Keith Jackson says the Tesco deal aligns with the company's growth strategy. Founded through a merger and holding global Esquires rights since 2013, Cooks Coffee reported revenue of $6.73 million for the year ended March 31, up 43 percent from 4.7 million. The new cafes will feature full layouts and broad food options.
    Meanwhile, financial trouble's hit two major Auckland apartment projects worth a combined $435 million. Insolvency practitioners have been appointed to companies involved in the 350 million dollar Amaia development in Takapuna and the 85 million dollar Beachcroft Residences in Onehunga. Subcontractors have raised concerns about payments at Amaia, where 15 more buildings are planned. Both projects include 88 units, with Amaia designed to expand to 500 apartments. Operators are also being sought for Amaia's planned childcare centre and gym.
    In dairy, the Global Dairy Trade price index fell 1.6 percent, led by declines in key products, but economists are maintaining farmgate milk price forecasts near $10 per kilogram of milksolids. Fonterra's current forecast range is $9.00 to $11.00 per kilogram. Whole milk powder dropped 2.3 percent compared to the last sale a fortnight ago. Skim milk powder was down 0.5 percent. Butter prices fell 3 percent and buttermilk powder declined 2.3 percent. Analysts attribute the softness to strong milk production during the October peak.
    And at the High Court in Auckland, former Minister for Workplace Relations and Safety, Michael Wood, has described what he called "serious deficiencies" in workplace safety at the Talley's group. Wood oversaw WorkSafe's probe after TVNZ aired reports in 2021 and 2022 alleging unsafe practices and injury claim mismanagement. Talley's is suing TVNZ for defamation, claiming the stories damaged its business. Wood says he was told orally by officials that deficiencies reached the board level, though the phrase did not appear in written briefings. Talley's lawyer Brian Dickey challenged how Wood formed his assessment. The trial continues.
    That was Today in Business - Powered by Spark for Business - your NZ Herald daily business summary. For the best in business, subscribe to Herald Premium at nzherald.co.nz.

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  • Today in Business: October 7, 2025

    Today in Business: October 7, 2025
    Oct 7 2025
    Welcome to Today in Business - Powered by Spark for Business, an experimental AI podcast by the New Zealand Herald.
    Each weekday, we bring you five stories, the best of the New Zealand Herald business journalism, summarised and delivered by an AI voice as an easily digestible recap.
    It's Tuesday, October 7, 2025, and here are five stories you should know about.
    ASB has agreed to pay $135.6 million to settle a class action, alleging breaches of disclosure obligations under the Credit Contracts and Consumer Finance Act. The settlement ends four years of legal action, with ASB admitting no liability. Chief executive Vittoria Shortt says the deal provides certainty for customers. Lawyer Scott Russell, representing plaintiffs, calls it a positive outcome, avoiding lengthy litigation. ANZ remains the sole defendant and confirms it will continue defending its case. The class action, filed in 2021, followed issues when ANZ sent incorrect loan variation disclosures to more than 100,000 customers.
    In other news, liquidators for the cancelled Juicy Festival and Timeless Summer Tour are seeking repayment from artists after the companies' collapse left a $14 million shortfall. Reports show Juicy New Zealand owes $8.8 million to unsecured creditors, while Timeless Events owes 5.2 million. Assets total less than $140,000 across both. Liquidators Garry Whimp and Benjamin Francis have asked artists including Ludacris, Akon, and Boy George to return funds paid. They say the transactions may be voidable under company law and have applied to the court for guidance, with a two-day hearing planned after April 17 next year.
    Meanwhile, the latest NZIER Quarterly Survey of Business Opinion shows confidence declining in the September quarter. A net 15% of firms expect better economic conditions, down from 26% in June. Fourteen percent reported lower trading activity, while nine percent expect improvement next quarter. Hiring and investment intentions have fallen, with 23% cutting staff and 13% planning reduced equipment investment. Manufacturing remains least optimistic, with only 3% expecting improvement. NZIE Arr's Christina Lee-yoong says weak demand and global uncertainty are driving caution. The survey is the final major data release before tomorrow's Official Cash Rate decision.
    In a separate development, Māori Kiwifruit Growers Limited has launched a new export initiative in the United Arab Emirates with partners Mr Apple and Zespri. The Māori Queen led a delegation in Dubai for the launch. Chairman Geoff Rolleston says the partnership places Māori growers "on the world stage" and aims to reinvest proceeds into training and capability-building. The group represents more than 70 orchards supplying 8% of New Zealand's kiwifruit.
    And BNZ has reduced several home loan rates ahead of the Reserve Bank's official cash rate announcement. The six-month fixed rate drops 10 basis points to 4.89%, while the 18-month term falls 26 basis points to 4.49%. Two- and three-year rates decrease to 4.65 and 4.85, aligning with rival banks ASB, ANZ, and Westpac. Kiwibank continues to offer the lowest six-month rate at 4.85%. The rate adjustments follow widespread reductions across major lenders last week. At the last meeting in August, the central bank published a new rate track, indicating continued easing through early next year.
    That was Today in Business - Powered by Spark for Business - your NZ Herald daily business summary. For the best in business, subscribe to Herald Premium at nzherald.co.nz.

    See omnystudio.com/listener for privacy information.
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  • Today in Business: October 6, 2025

    Today in Business: October 6, 2025
    Oct 6 2025
    Welcome to Today in Business - Powered by Spark for Business, an experimental AI podcast by the New Zealand Herald.
    Each weekday, we bring you five stories, the best of the New Zealand Herald business journalism, summarised and delivered by an AI voice as an easily digestible recap.
    It's Monday, October 6, 2025, and here are five stories you should know about.
    Former Reserve Bank Governor Adrian Orr will receive a $416,120 restraint of trade payment this month, taking his pay to $1.18 million for the nine months until his March resignation, the Reserve Bank's 2025 Annual Report shows. Chairman Neil Quigley resigned on August 29 following scrutiny over Orr's departure. Staffing expenses rose to $117 million for the year to June 30, up from $94 million. Six executive leaders received $1.6 million in redundancy payments. Acting Governor Christian Hawkesby thanked staff and welcomed incoming Governor Dr Anna Breman, who begins on December 1. The bank delivered a $542 million dividend to Government.
    In other news, IAG New Zealand's been fined $19.5 million by the Auckland High Court after admitting breaches of the Financial Markets Conduct Act. The insurer made false or misleading representations about pricing and discounts between 2021 and 2024, affecting around 269,000 customers and overcharging $35 million. Justice Peter Andrew says the scale of contraventions was the most serious feature of the case. The penalty reflects IAG's cooperation and remediation. Chief executive Amanda Whiting says the company apologised and refunded customers, adding that systems had been fixed. The Financial Markets Authority confirmed the breaches were self-reported.
    And the authority's also issued an alert about pump-and-dump scams operating through WhatsApp group chats. The FMA says scammers buy low-value overseas shares, hype them to investors, and sell at inflated prices, leaving victims with losses. It's released phone numbers and aliases linked to the scheme. Scammers impersonate business figures to invite people into groups, initially promoting well-known stocks to build trust. Victims may later face "recovery room" scams seeking more money. The FMA urges investors to stop engaging and block scammers.
    Elsewhere, the Commerce Commission's warned several Blenheim brick layers over suspected cartel conduct. G J Marfell Ltd, Mike Vis Bricklaying Ltd, and tradesmen Benjamin Robertson and Andrew Dwyer discussed project quotes via text, raising concerns about cover pricing. Commission chairman John Small says such behaviour risks bid rigging and market allocation. The investigation found messages from 2020 and 2021 showing pricing discussions that may have deceived customers seeking competitive quotes. Despite limited financial harm, Small says the warnings highlight the need for tradespeople to understand competition law obligations and ensure lawful dealings with competitors in future projects.
    And the Commission's ruled out a new inquiry into airport regulation for Auckland, Wellington, and Christchurch airports. Air New Zealand had called for a deeper review, but the watchdog says it will instead consult on information disclosure for major projects. The New Zealand Airports Association welcomed the decision, saying it ensures transparency and stability. Auckland Airport chief executive Carrie Hurihanganui says the report provides investor certainty. But the Aviation Industry Association said the move doesn't provide the confidence that big investment decisions like the Auckland airport terminal expansion can really deliver value for New Zealanders.
    That was Today in Business - Powered by Spark for Business - your NZ Herald daily business summary. For the best in business, subscribe to Herald Premium at nzherald.co.nz.

    See omnystudio.com/listener for privacy information.
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  • Today in Business: October 3, 2025

    Today in Business: October 3, 2025
    Oct 3 2025
    Welcome to Today in Business - Powered by Spark for Business, an experimental AI podcast by the New Zealand Herald.
    Each weekday, we bring you five stories, the best of the New Zealand Herald business journalism, summarised and delivered by an AI voice as an easily digestible recap.
    It's Friday, October 3, 2025, and here are five stories you should know about.
    Two more banks have joined a wave of mortgage rate cuts ahead of next week's Reserve Bank decision on the Official Cash Rate. Westpac and ASB both dropped their one-year fixed home loan rates to 4.49%, matching ANZ and BNZ. Westpac also cut its six-month rate to 4.99% and two-year rate to 4.65%, while ASB lowered its six-month to 4.95% and two-year to 4.65%. Westpac's Sarah Hearn says the reductions reflect intense competition, while ASB's Adam Boyd says the move supports households refinancing. The OCR currently sits at 3%, down from 5.25% in August last year.
    In other news, the Government's unveiled a new Defence Industry Strategy aimed at boosting local involvement in military equipment production. Associate Defence Minister Chris Penk says the plan requires multinationals to outline partnerships with New Zealand companies. Defence Minister Judith Collins points to drone-maker Syos Aerospace as an example, with the firm employing 100 engineers and producing 40 uncrewed surface vehicles per month. Founder Sam Vye says the approach strengthens collaboration with the Defence Force. The Ministry of Defence earlier noted growing global tensions and stressed the need for resilience, innovation, and value for money in defence projects.
    Meanwhile, New Zealand's largest liquor retailer has reported weaker revenue and flat profits. Tasman Liquor, which owns around 370 outlets under brands such as Liquor Centre and Bottle-O, posted revenue of $269 million for the year to April 2025, down 4% from $280.3 million. Gross profit slipped to 20.7 million, while net profit held steady at 4.76 million. The company paid a dividend of $7.77 million to its Australian parent, Metcash. Tasman's stores were affected by Auckland's alcohol policy changes, while nationwide trends show declining alcohol consumption and rising demand for low and no alcohol options.
    In a separate development, influencers Topher Richwhite and Bridget Thackwray have secured Environment Court consent to develop a glowworm cave attraction near Queenstown. Their company Far away Entertainment won approval after amending its original proposal, which had been turned down by the council. The revised plan requires leasehold, not freehold, and includes native planting and restrictions on fencing and design. The couple already have a separate glowworm venture under construction in Rotorua. The Queenstown site's expected to handle up to 1200 visitors daily. Detailed plans include a ticketing hut, carpark, wetland features, and eco-friendly designs using locally sourced plants and materials.
    Turning to international markets, Tesla has reported higher third-quarter global vehicle deliveries. The company handed over 497,099 cars, up 7% from a year earlier and reversing three straight quarters of declines. The increase came as buyers rushed to take advantage of a US tax credit that expired on September 30. Other carmakers, including General Motors, Ford, Stellantis, Toyota, Honda and Kia, also reported stronger US sales. The annualised auto sales rate reached 16.4 million in September. Tesla's results follow recent declines linked to competition in China, weaker demand for its Cybertruck, and controversy involving chief executive Elon Musk.
    That was Today in Business - Powered by Spark for Business - your NZ Herald daily business summary. For the best in business, subscribe to Herald Premium at nzherald.co.nz.

    See omnystudio.com/listener for privacy information.
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  • Today in Business: October 2, 2025

    Today in Business: October 2, 2025
    Oct 2 2025
    Welcome to Today in Business - Powered by Spark for Business, an experimental AI podcast by the New Zealand Herald.
    Each weekday, we bring you five stories, the best of the New Zealand Herald business journalism, summarised and delivered by an AI voice as an easily digestible recap.
    It's Thursday, October 2, 2025, and here are five stories you should know about.
    Barfoot and Thompson reports a sharp drop in Auckland house prices, despite a rise in sales volumes. The agency sold one thousand and thirty-two residential properties last month across Auckland, Northland, Coromandel and Bay of Plenty, up 21 percent from 889 in August. But the median price fell by 20 thousand dollars to 930 thousand. That figure is now 25 percent below the peak median of $1.24 million recorded in November 2021. Unsold listings remain high.
    In other news, ExxonMobil's future in New Zealand has been highlighted in Australian media reports. The Australian newspaper says the company could be open to discussions about offloading its New Zealand assets, though ExxonMobil has not placed the business on the market. A spokesperson for ExxonMobil New Zealand says the company does not comment on market speculation. The company owns the Wiri Oil Service business in South Auckland, additional terminals in Mount Maunganui, Wellington, Christchurch and Bluff, and operates a nationwide network of more than 150 service stations through agents and dealers.
    Meanwhile, airports have welcomed the Government's new freight action plan, an updated national freight demand study, and a freight advisory council. The New Zealand Airports Association says major investments are already underway, including Auckland Airport's new cargo precinct and Christchurch Airport's expanded freight apron, which will accommodate up to eight narrow-body or four wide-body aircraft. NZ Airports chief executive Billie Moore says these initiatives will better connect projects with freight businesses. The plan will be led by NZ Transport Agency.
    Elsewhere, a Christchurch man has been sentenced over tax offending. Frederick Mario Mau Epiha received 10 months' home detention after pleading guilty to 16 charges in the Christchurch District Court. Inland Revenue says Epiha's company, Redemption Solutions Limited, failed to pay more than 215 thousand dollars of workers' PAYE between August 2022 and April 2023. The department says the offending was deliberate and repeated despite warnings. Redemption Solutions was placed into voluntary liquidation in April 2023. The court also heard Epiha previously managed Asia Pacific Group Limited, whose director was sentenced in 2024 for similar PAYE offending.
    And the High Court has penalised an Auckland real estate agent, and her husband, for breaching the Overseas Investment Act. The penalties so far amount to nearly $1 million. Land Information New Zealand says the couple bought three Auckland residential properties on behalf of overseas investors without consent, using shell companies to conceal foreign involvement from China and Hong Kong. The court ordered the pair to sell properties acquired unlawfully, with additional penalties pending. One Saint Johns property sold in 2022 for three point five million dollars. Another Mission Bay property remains under development.
    That was Today in Business - Powered by Spark for Business - your NZ Herald daily business summary. For the best in business, subscribe to Herald Premium at nzherald.co.nz.

    See omnystudio.com/listener for privacy information.
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  • Today in Business: October 1, 2025

    Today in Business: October 1, 2025
    Oct 1 2025
    Welcome to Today in Business - Powered by Spark for Business, an experimental AI podcast by the New Zealand Herald.
    Each weekday, we bring you five stories, the best of the New Zealand Herald business journalism, summarised and delivered by an AI voice as an easily digestible recap.
    It's Wednesday, October 1, 2025, and here are five stories you should know about.
    RNZ has confirmed cuts to youth platform Tahi, weekend shows, and presenting roles after its annual budget was reduced by nearly five million dollars. The broadcaster says its Sunday Culture 101 show will drop from two presenters to one, while the At The Movies radio segment will end but continue as a podcast. The Sunday Sampler show has also finished. Interim head of content John Hartevelt says expansion of platforms such as YouTube and TikTok had made it difficult to support dedicated youth channels. The final Tahi podcast will be released November 6. Tahi was launched in 2021 to target younger listeners.
    In other news, American author Mel Robbins has sold out two shows scheduled for March at Auckland's new one-billion-dollar New Zealand International Convention Centre. SkyCity Entertainment Group says nearly 2,852 seats were sold twice after Robbins added a second date on March 21. Only limited accessible tickets remain. Tickets, priced from 132 to 177 dollars, went on sale last week. Robbins, author of The Let Them Theory, will present her Let Them Tour, 2026. The venue's general manager Prue Daly says hosting Robbins marks an exciting start for the country's largest seated theatre opening in February.
    Land Information New Zealand has granted exemptions to Shoon-dee Customs, developer of Auckland's 56-level Seascape tower, allowing it to sell apartments to overseas buyers. Lynns says delays, including a dispute with former contractor China Construction, created financial pressures. The dispute is resolved and new builder Icon is engaged. A Shoon-dee spokesman disputes Lynns' comments on financing but confirms exemptions were necessary to complete pre-sales. The Seascape project, New Zealand's tallest planned apartment tower, has been stalled for more than a year. Lynns says the exemption enables continued settlement of residential unit sales with foreign purchasers.
    Meanwhile, global air passenger traffic grew in August, according to the International Air Transport Association. Revenue passenger kilometres, or RPKs, rose 4.6 percent year-on-year, up from July's 4.1 percent increase. Passenger load factors from the Americas to the Southwest Pacific, which includes New Zealand, fell 1.5 percent compared to last year. The global airline association expects flight volumes this month to be up 3.4% on a year ago.
    And Netsafe reports financial losses from impersonation scams rose sharply last month, despite fewer incidents being reported. Losses increased from 5,000 dollars in August to 19,600 dollars in September, with an average of 268 dollars lost per scam. Netsafe says impersonation scams exploit relationships and trust, making victims more likely to follow instructions or send money. The agency urges people to verify unusual requests, even if they appear to come from trusted sources. Netsafe also recorded an increase in account compromise scam reports, rising from 51 cases in August to 59 in September.
    That was Today in Business - Powered by Spark for Business - your NZ Herald daily business summary. For the best in business, subscribe to Herald Premium at nzherald.co.nz.

    See omnystudio.com/listener for privacy information.
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  • Today in Business: September 30, 2025

    Today in Business: September 30, 2025
    Sep 30 2025
    Welcome to Today in Business - Powered by Spark for Business, an experimental AI podcast by the New Zealand Herald.
    Each weekday, we bring you five stories, the best of the New Zealand Herald business journalism, summarised and delivered by an AI voice as an easily digestible recap.
    It's Tuesday, September 30, 2025, and here are five stories you should know about.
    Andrew Barclay, retiring Goldman Sachs New Zealand managing director and chief executive, has been appointed chairman of TVNZ effective November 3. He replaces Alastair Carruthers, who is leaving the role eight months early. Media and Communications Minister Paul Goldsmith confirmed the appointment today, saying Barclay's background equips him with skills for financial oversight and strategic decision-making. Barclay spent 26 years at Goldman Sachs, the last 19 as chief executive. TVNZ, funded by advertising revenue, recently announced its first dividend in three years. The board also includes broadcaster Paul Henry and former Sky chief executive John Fellet, both recent appointees.
    In other news, Mexican company Finaccess risto-russ-eon has announced a full takeover offer for Restaurant Brands New Zealand, operator of KFC, Taco Bell, Carl's Junior and Pizza Hut. Finaccess currently owns 75% of the NZX-listed business and offered $5.05 per share for the remaining 25%, worth about $157.5 million. The offer represents a 70.6% premium on Monday's closing price of $2.96. Following the announcement, shares rose 65.54% to $4.90. Finaccess chief executive hozay pa-ress gootearess is also chairman of Restaurant Brands. The company's latest financial results showed sales of $703.2 million and net profit of $11.9 million.
    SkyCity Entertainment's annual report reveals chief executive Jason Walbridge received total remuneration of $2.6 million in the year ending June 30th. Chairman Julian Cook says only $1.6 million was cash, with the remainder in incentive grants and restricted share rights. The package included $1.44 million in salary and benefits, $177,900 in relocation costs, and $582,500 in long-term incentives. Walbridge, who joined from Las Vegas last year, received no short-term incentive after focusing on financial improvements. The report highlights progress on SkyCity's strategic refresh and says the $1 billion New Zealand International Convention Centre remains on track for February 2026.
    Meanwhile, Scales Corporation will spend $103 million to gain full ownership of Meateor Australia and Fayman International, and increase its stake in ANZ Exports to 85%. Completion of the acquisitions is scheduled today, with more than half paid in cash immediately, some settled in shares, and the rest paid in instalments over five years. Managing director Andy Borland says the businesses have shown strong performance and strategic alignment. The acquisitions are expected to lift earnings in the current year, with Scales now forecasting net profit between $51 million and $56 million, compared with earlier guidance of $45 to $50 million.
    And finally, in banking, BNZ has cut its one-year fixed home loan rate to 4.49%, the lowest advertised rate among major banks. The 26-basis-point reduction, effective today, compares with 4.75% at ASB, ANZ, Westpac and Kiwibank. BNZ executive Karna Luke says the cut provides meaningful savings, noting a household with a 500,000 dollar mortgage could save more than $2,400 in 12 months compared with the previous average one-year rate of 5.19%. Luke says BNZ is seeing strong demand for the one-year term. The rate is down sharply from its February 2024 peak of 7.35%, offering relief to mortgage customers nationwide.
    That was Today in Business - Powered by Spark for Business - your NZ Herald daily business summary. For the best in business, subscribe to Herald Premium at nzherald.co.nz.

    See omnystudio.com/listener for privacy information.
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  • Today in Business: September 29, 2025

    Today in Business: September 29, 2025
    Sep 29 2025
    Welcome to Today in Business - Powered by Spark for Business, an experimental AI podcast by the New Zealand Herald.
    Each weekday, we bring you five stories, the best of the New Zealand Herald business journalism, summarised and delivered by an AI voice as an easily digestible recap.
    It's Monday, September 29, 2025, and here are five stories you should know about.
    Major power users are urging stronger measures to secure electricity supply as the Government prepares a response to the Frontier Economics review. The Major Energy Users' Group, which includes Fonterra and NZ Steel, says wholesale prices have risen 150 percent over eight years, with industrial users facing 34 percent higher costs in just two years. Chair John Harbord says the system is "fundamentally reliant" on Genesis Energy's Huntly power station, and warns prices remain high even during periods of abundant supply. Genesis recently struck a two-year deal with BT Mining for 240,000 tonnes of coal to bolster Huntly's coal reserve.
    In other news, Auckland Airport plans to raise up to 300 million dollars through bond issues. The company today launched an offer of 150 million dollars in five and a half year fixed rate retail bonds, with an indicative margin of 0.85 to 0.90 percent and maturity on April 8, 2031. The retail offer opens today, with all bonds reserved for clients of ANZ, Westpac, NZX participants, intermediaries, and institutional investors. The airport may also issue wholesale floating-rate bonds maturing in October 2028. Last week, the airport opened its 465 million dollar northern airfield expansion project.
    Meanwhile, a Christchurch builder's been sentenced for evading more than 260 thousand dollars in tax. Gary Terence Moss received seven months of home detention, and was ordered to pay 20 thousand dollars in reparations, after failing to declare income since 2016. Inland Revenue says Moss filed no tax returns between 2019 and 2022 and submitted a false 2023 return, before fleeing briefly to Australia. His underpaid tax was assessed at 267 thousand dollars. Moss later engaged a tax agent, but incomplete amended returns were rejected. He was convicted on one representative charge and one charge of attempting to evade assessment.
    The Commerce Commission has delayed its decision on Kegstar New Zealand's proposed acquisition of rival, Konvoy, until December. The regulator says it's concerned the merger could substantially reduce competition in keg pooling services, leaving brewers with only one provider. An anonymous small producer submission says alternatives such as one-way plastic kegs or buying a private fleet are impractical. Kegstar, owned by US-based MicroStar Logistics, argues Konvoy is not viable independently. Konvoy went into liquidation in May, but continues servicing customers. The commission says clearance will only be granted if competition is not substantially lessened. Decision date is December 4.
    And most business leaders support further cuts to New Zealand's official cash rate. In the Herald's Mood of the Boardroom survey, 78 percent back lower rates, while 11 percent oppose cuts and 11 percent are unsure. The Reserve Bank lowered the OCR by 25 basis points to 3.00 percent in August, its lowest since 2022. Many executives say cheaper borrowing is critical for economic momentum, though others warn inflation risks must be contained. Several respondents criticize the Reserve Bank's communication, while others stress monetary policy should be paired with supportive bank lending and government cost-relief measures.
    That was Today in Business - Powered by Spark for Business - your NZ Herald daily business summary. For the best in business, subscribe to Herald Premium at nzherald.co.nz.

    See omnystudio.com/listener for privacy information.
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