Softer-than-expected inflation figures this week suggest the inflation dragon - the one that savaged real wages and borrowing costs for the last three years - may have finally been shoved back in it's cave. Kiwibank's Mary Jo Vergara joins the podcast to discuss what that means going forward for interest rates in our housing-market-with-bits-tacked-on economy. Markets are now saying that the Reserve Bank could now cut the Official Cash Rate by the end of this year, but how many cuts can we...

Former PM and finance minister Sir Bill English is the intellectual driving force behind the new government’s plans for the country's biggest landlord. He tells Bernard why a full accounting of its running costs may prove to be too rich for the government. Learn more about your ad choices. Visit megaphone.fm/adchoices

Bernard Hickey goes hunting for the Reserve Bank’s first rate cut in a discussion with Kiwibank economist Sabrina Delgado. It was supposed to be this year, especially now that the economy appears mired in a multi-dip recession with higher unemployment - but sticky local inflation has held the RBNZ back. Now, however, it is forecasting a rate cut in August 2025 at the earliest. Sabrina explains why she disagrees, why the central bank should be able to cut as early as November, and what that’ll...

After ten years at the helm of Transpower, chief executive Alison Andrew is stepping down. She reflects on a tumultuous decade of managing Aotearoa’s most important network, and why she considers being relatively unknown in the public arena as a mark of success. This interview was recorded shortly before a Transpower pylon collapsed in Northland on June 21st, causing widespread power outages in the region. The collapse was caused by contractors who failed to observe proper procedure while...

Is the Kiwi dream to own a "McMansion", a "shoebox" or something else entirely? Bernard talks with The Urban Advisory’s MD Greer O’Donnell about a major new survey of what type of homes we actually want. She says it may not be the quarter acre "pavlova paradise" still assumed by many voters and politicians when they’re deciding on what should be be built and where. If you'd like to take part in The Urban Advisory's housing survey, click here Learn more about your ad choices. Visit...

Bernard revisits the most revolutionary era in our political economy in conversation with Toby Manhire. Together they discuss how much the Labour Government of 1984 to 1989, portrayed in The Spinoff's new hit podcast series Juggernaut, created our modern economy, for good and ill. Listen to Juggernaut here Learn more about your ad choices. Visit megaphone.fm/adchoices

We thought you might like a wee taster of our brand new #1 series, Juggernaut: The Story of the Fourth Labour Government, hosted by Toby Manhire. Click here to follow Juggernaut so you get every episode as soon as it's released! 1. I love you, Mr Lange Fuelled by brandy and fury, Sir Rob Muldoon calls a snap election, sparking a 1984 campaign of contrasts – the menacing, protectionist National PM against the fresh, upbeat Labour leader, David Lange. The pretext for the election is the...

Reserve Bank Chief Economist Paul Conway joins Bernard in the immediate aftermath of a surprisingly hawkish monetary policy statement, and just before the Budget. Together they discuss sources of inflation, why interest rates are staying high for longer than anyone expected, and whether the blunt instrument of the official cash rate can do anything about this extra-sticky inflation.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Bernard Hickey goes deep into the mechanics of the electricity distribution system to find out what really happened during a cold snap in May that almost caused a national energy crisis. He talks to Electric Kiwi CEO Luke Blincoe about how to solve the dry winter and cold snap problem without spending billions of dollars on new generation and lines. Learn more about your ad choices. Visit megaphone.fm/adchoices

Nicola Willis has delivered tax cuts in her first budget, largely as promised. But has the coalition government managed to square the circle of relieving cost of living pressures while avoiding the quicksand of encouraging inflation? In a special crossover episode of Gone By Lunchtime meets When the Facts Change, Toby Manhire quizzes Bernard Hickey on all that, plus: Is Willis right to say the tax cuts are not paid for by borrowing, and can she reasonably blame Labour for the bleak fiscal...

The Reserve Bank warned this week of high interest rates and high inflation for even longer, with sticky rental, rates and insurance inflation all partly to blame. Kiwibank chief economist Jarrod Kerr joins Bernard Hickey to discuss the how blunt our central bank's main monetary policy tool can be, and the developing opinion that high interest rates actually increase, rather than decrease, the inflation. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Redclyffe substation near Napier flooded during Cyclone Gabrielle and turning it off turned off the power for much of Hawkes Bay and Tairāwhiti. Transpower has fixed it for now, but has faced a big decision: should it rebuild it where it is now, next to a stream? Or start again on higher ground? The choice tells us a lot about how to think about our climate future. Bernard Hickey talks about that decision with Transpower’s executive general manager grid delivery, Mark Ryall. Learn more...

The Government has repealed various smokefree measures to ensure it keeps collecting $1.2 billion a year in tobacco taxes, in order to pay for tax cuts already being delivered to landlords. But an economic analysis done by Otago University's public health department has found keeping the smokefree measures would have been of benefit not only for public health, but also for the economy. The university's Professor Nick Wilson joins Bernard to discuss the fascinating figures resulting from that...

The Spinoff has just launched a brand new series called Behind the Story, where site editor Madeleine Chapman sits down with a staff writer or contributor to gain more insight about a big story on The Spinoff from the week. We thought you might like to check out the first episode, and if you enjoy it please follow it wherever you get your podcasts! On Friday, Bulletin editor Anna Rawhiti-Connell sent her final newsletter, and took the opportunity to share what she’s learned about the news...

Bernard Hickey talks with property academic Deborah Levy about her research into the changes in the way bach owners feel about their holiday homes. Where once the bach was the centrepiece of 'the kiwi dream’, a place for friends and families to gather, relax and create memories, they have now become a financialised asset to be added to the portfolio of the increasingly wealthy few. What's behind this change? What insights can this research give into the rest of our dysfunctional national...

The Reserve Bank wants to know how the public feels about a potential new type of digital cash. This digital currency would be exchangeable one-for-one with ‘old’ forms of bank-issued electronic money and ye olde paper cash and metal coins, but would not outright replace the physical stuff. RBNZ’s Head of Money and Cash Ian Woolford joins Bernard to discuss what’s different with this new digital cash, what problems it could solve and how it might open up a whole new front in bank...

Kiwibank chief economist Jarrod Kerr joins Bernard to discuss and dissect the trajectory of inflation and interest rates, both here in Aotearoa and around the globe. Inflation is stickier than expected and interest rates are likely to stay higher for longer, but what does that mean for the kiwi dollar? How do US Fed chair Jerome Powell's recent comments affect us? And what is going on with the price of gold? Learn more about your ad choices. Visit megaphone.fm/adchoices

Kiwibank economist Sabrina Delgado joins Bernard to discuss the ways inflation affects various groups in Aotearoa. From homeowners and renters to beneficiaries and pensioners, they explore how inflation impacts everyone differently, and reveal who is being hit hardest by the current spike. Learn more about your ad choices. Visit megaphone.fm/adchoices

Auckland Airport wants to put up its landing charges to help pay for a multibillion dollar revamp of its terminals. Its biggest customer, Air NZ, is complaining that the airport is over-charging. So who is right? What is fair? And what happens when two effective monopolies butt heads? Bernard Hickey talks to Auckland Airport CEO Carrie Hurihanganui about the dispute, how the Commerce Commission factors in, and what the airport is planning to mitigate its long-term impact on the changing...

The evidence is clear: it's good for our pockets and for the planet, so what's stopping families and businesses from going electric? How do we address the electrification knowledge gap and other barriers that stand in the way of adopting cleaner, more affordable energy both as individuals and organisations? Bernard Hickey talks to Rewiring Aotearoa CEO Mike Casey about their recent report 'Electric Homes', and how NZ is one of the first countries to reach the "electrification tipping...

With the majority of Aotearoa struggling to meet basic needs, philanthropic funding is more important than ever. Cheryl Spain, executive director of The Gift Trust, joins Bernard Hickey to explain why philanthropic giving needs to become part of New Zealand culture, where funding should be directed within an organisation for maximum effectiveness and how to navigate the complications that come with financial giving.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In a special edition of When The Facts Change, Bernard Hickey talks with The Spinoff’s Wellington editor Joel MacManus about the historic victory for YIMBYs in last week’s District Plan votes by the Wellington City Council. Who knew that town planning could be so important? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transpower is taking a new approach to handling the massive increase in demand for electricity. Instead of building bigger power pylons (and a lot more of them), they want to reduce demand for electricity in the first place. Bernard Hickey is joined by Transpower’s John Clarke to discuss the state-owned power transmission company's recent RFP for non-transmission solutions; novel ideas such as buying demand reduction through virtual grids and batteries. And ground zero for their electrical...

Kiwibank chief executive Steve Jurkovich joins Bernard Hickey to discuss how businesses and consumers are feeling early in 2024, why an RBNZ rate hike last week would not have helped and how banks are thinking about the challenges of climate risk and cybersecurity. Learn more about your ad choices. Visit megaphone.fm/adchoices

Te Pūtea Matua governor Adrian Orr joins Bernard to discuss the bank’s decision to hold the official cash rate at 5.5%, rather than hiking it further in an attempt to control rampant inflation (which is still roughly double where the RBNZ wants it). Listen in to hear the governor's reasoning behind the cash rate hold, his thoughts on New Zealand's record net migration and whether the government's decision to remove the bank's inflation/unemployment dual mandate earlier in the year has made...