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Perspective with Ryan Bridge: We've got to take the wins where we can get them · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from newstalk SEDB. Follow this
• 0:13
  Speaker 1: and our wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: So the Reserve Bank did the predictable thing today and
• 0:19
  Speaker 2: cut twenty five basis points. Good news for mortgage holders,
• 0:22
  Speaker 2: good news for the economy, more money in our pockets
• 0:25
  Speaker 2: and more money to spend. Of course, it's not going
• 0:27
  Speaker 2: to change the world. It's a quarter of a percent
• 0:29
  Speaker 2: on a wholesale rate, and a wholesale rate is only
• 0:33
  Speaker 2: a portion of the bank's rate, and the bank's rate
• 0:36
  Speaker 2: only matters if you haven't already fixed, and as of
• 0:39
  Speaker 2: five minutes ago, the banks haven't budged on fixed rates,
• 0:42
  Speaker 2: only on floating. The bank's swap rates are probably more
• 0:46
  Speaker 2: important here and at the moment. We'll get more on
• 0:48
  Speaker 2: that later in the program, but for now, it is
• 0:50
  Speaker 2: the general direction of rates that we like the sound of.
• 0:53
  Speaker 2: This is good loosening lowering the direction of travel, to
• 0:57
  Speaker 2: steal a term from Desinda Adern, is good. Our disposable
• 1:00
  Speaker 2: income is going up great. But of course the question
• 1:04
  Speaker 2: then becomes, will we actually spend it? Are we now
• 1:08
  Speaker 2: so so worried about trigger happy Trump and his tariffs
• 1:12
  Speaker 2: that we don't go and get the new couch, or
• 1:14
  Speaker 2: we don't upgrade the car, not that it should be
• 1:17
  Speaker 2: a Tesla or Iconic anyway, Or maybe we don't go
• 1:20
  Speaker 2: and get the kids back into ballet class because the
• 1:22
  Speaker 2: subs were too expensive during the cost of living crisis.
• 1:25
  Speaker 2: The answer to that question is at this point, we
• 1:28
  Speaker 2: actually just don't know, because we haven't had any confidence
• 1:31
  Speaker 2: surveys for the past week. But if Trump doesn't start
• 1:34
  Speaker 2: doing deals soon, then my bet is people will start
• 1:37
  Speaker 2: pulling back a bit, maybe not all the way, but
• 1:40
  Speaker 2: enough to slow an economic recovery down. Just talk to
• 1:44
  Speaker 2: your friends and your family and ask them how they're
• 1:46
  Speaker 2: feeling about things at the moment. So there's reason to
• 1:49
  Speaker 2: be wary, but one mustn't be ungrateful when inflation is
• 1:54
  Speaker 2: beat the government's talking about growth a budget surplus rather
• 1:58
  Speaker 2: than more borrowing. You've got to take the winds when
• 2:00
  Speaker 2: you get them, no matter how small, teeny tiny they
• 2:04
  Speaker 2: may be.
• 2:05
  Speaker 1: For more from News Talks, the'd be listen live or
• 2:08
  Speaker 1: online and keep our shows with you wherever you go
• 2:11
  Speaker 1: with our podcasts on iHeartRadio