Latest / Best of Business / Barry Soper: Newstalk ZB senior political correspondent on the Reserve Bank cutting the OCR to 3 percent

Transcript

Barry Soper: Newstalk ZB senior political correspondent on the Reserve Bank cutting the OCR to 3 percent · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks. It'd be
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  Speaker 2: By senior political correspondence with us Barry.
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  Speaker 3: Good afternoon. Just the outset that you'll all remember. It
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  Speaker 3: was Trump that was creating the expectation of a ceasefire
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  Speaker 3: at the first meeting, and he said that if Putin
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  Speaker 3: didn't agree to it, then there would be severe sanctions
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  Speaker 3: against Russia. So there was nobody other than Trump that
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  Speaker 3: was creating that.
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  Speaker 2: Barry Trump's an idiot just because he's an idiot the
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  Speaker 2: rest of us Stone.
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  Speaker 3: That's great, Thank you.
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  Speaker 2: Did you did you honestly need me to admit that
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  Speaker 2: Trump's an idiot?
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  Speaker 3: No, that's great.
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  Speaker 2: At least we're on the same page. I'm still not
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  Speaker 2: deranged like you. Listen, the Reserve Bank thoughts.
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  Speaker 3: Well, interesting, isn't it that you go back over the
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  Speaker 3: ocr when our old mate Adrian All was there. I mean,
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  Speaker 3: for since it's May twenty three, the OCR is at
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  Speaker 3: five point five percent. It only moved in August last
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  Speaker 3: year five point two five percent, and now it's down
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  Speaker 3: to what three percent? So the move is in the
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  Speaker 3: right direction. That long last that the screws are coming
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  Speaker 3: off the economy, and if you look at the comments,
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  Speaker 3: as I watched the news conference of the Reserve Bank today,
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  Speaker 3: and you look at the comments, the Reserve banks are
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  Speaker 3: saying that they expect growth from the end of this year,
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  Speaker 3: and they say the worst is over, better times are
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  Speaker 3: on the way. We can all only hope for that,
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  Speaker 3: and hopefully a bit of an enthusiastic injection is put
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  Speaker 3: into the economy as a result of it. The acting governor,
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  Speaker 3: Christian hawks me understand that you're going to have them on,
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  Speaker 3: he said, the American tariff war, which is pretty obvious
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  Speaker 3: through a spanner in the works, but he says he
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  Speaker 3: believes it is wearing off to some extent.
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  Speaker 4: There hasn't been the escalation that the could have been
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  Speaker 4: in some of those measures of global policy uncertainty have
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  Speaker 4: actually been falling more recently. But despite that, there has
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  Speaker 4: been this cautiousness and businesses and consumers and it has
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  Speaker 4: lingered longer than we had anticipated. And so that's some
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  Speaker 4: of the thinking around whether those sectors have just become
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  Speaker 4: too cautious and need a bit more of a lift
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  Speaker 4: than we had expected.
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  Speaker 3: Yeah, so let's hope today's movement that the expectation of
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  Speaker 3: two more movements in the short term, we'll see some
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  Speaker 3: injection back into the economy and us doing a.
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  Speaker 2: Little bit definitely. Winston Peters wanting to appear before the
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  Speaker 2: COVID inquiry is quite an interesting move because he hasn't
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  Speaker 2: been called, is he No.
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  Speaker 3: He hasn't been called. And he tweeted today that look,
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  Speaker 3: he's writing to the COVID Royal Commission saying that he'll
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  Speaker 3: put his name up. He's happy to appear in public
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  Speaker 3: for transparency reasons. And I do remember hither that the
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  Speaker 3: first war tier alert level lockdown. It was announced on
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  Speaker 3: the twenty first of March twenty twenty. Don't think that's
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  Speaker 3: the year of the election that Winston was voted out
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  Speaker 3: of office, so he didn't have a long time at
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  Speaker 3: the desk before he lost his role in Parliament. But nevertheless,
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  Speaker 3: I remember it was a Saturday, the twenty first of March,
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  Speaker 3: and I remember ringing Winston saying what the hell is
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  Speaker 3: going on here? And it was the old go early,
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  Speaker 3: go fast.
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  Speaker 2: Or go fast, go early, so early, go hard.
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  Speaker 3: Go hard. Sorry, and Winston it was beyond him at
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  Speaker 3: the time. He said, well, for God's sake, you know,
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  Speaker 3: we should take a step back. And I remember then
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  Speaker 3: he was questioning the validity of doing what the government
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  Speaker 3: was doing. So I think he will have a fair
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  Speaker 3: part to play in this inquiry, even though his experience
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  Speaker 3: of it in terms of decision making going further on
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  Speaker 3: is very limited.
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  Speaker 2: It is very limited. Hey, really quickly, what did you
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  Speaker 2: make of Helen Clark's comments today?
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  Speaker 3: Well, you know, we hear a lot of a lot
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  Speaker 3: of this, don't we that women suffer greatly in politics
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  Speaker 3: through social media? And I'm sure they do, but I'm sorry,
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  Speaker 3: if you're in the public.
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  Speaker 2: Eye, harden up.
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  Speaker 3: Everybody suffers. I mean, I've gone off Twitter because I
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  Speaker 3: was tired of the abuse that I was getting day
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  Speaker 3: out to day out to day and vile abuse. It
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  Speaker 3: wasn't tired, just mild. And Helen Clark talks about the
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  Speaker 3: keyboard Warriors, and that's what they are. They're anonymous behind
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  Speaker 3: their little keyboards and can say what they like and
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  Speaker 3: get to whoever they like. I think the best thing
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  Speaker 3: to do. If you don't like it, don't read it.
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  Speaker 2: Yeah, but just under you know, she loved, which is
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  Speaker 2: what the comments were, actually loves the old social media.
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  Speaker 2: So she'll be reading it all. Hey, thank you very appreciate.
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  Speaker 2: A Very Soper, Senior political correspondent.
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