Heather du Plessis-Allan Drive

Listen to the Heather du Plessis-Allan Drive Full Show Podcast for Monday 1 December. Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.See omnystudio.com/listener for privacy information.

As expected, the Reserve Bank cut the OCR to 2.25% last week - but an unexpected side effect has been a lack of effect. The Reserve Bank announced that this would be the end of cuts, sending the wholesale market into a panic and, therefore, seeing no change in interest rates.  Finance Minister Nicola Willis told Heather du Plessis-Allan, "my message to the banks is always the same, which is pass on as much as you possibly can because it's good for the economy." LISTEN ABOVE See omnystudio.com/listener for privacy information.

Last weeks OCR cut brought hope of lower interest rates but the wholesale market seems to have been spooked by the Reserve Bank ruling out further cuts.  The term wholesale interest rates have jumped in response. ASB Chief Economist told Heather du Plessis-Allan, "we certainly put the the cost of wholesale borrowing up a bit higher as a result of this." LISTEN ABOVESee omnystudio.com/listener for privacy information.

On Monday the Government announced an annual 2-4% rates cap range will be fully implemented by 2029. The cap applies to all rates, including general rates, targeted rates and uniform annual charges, but excludes water charges and other non-rates revenue like fees and charges. Local Government Minister Simon Watts told Heather du Plessis-Allan, "it's going to be tough Heather, but guess what, it's been tough on everyone - households, businesses. "You think about those on fixed income, in particular, double-digit rate increases, some up to 20%. It's just simply not feasible, and that's what we've been hearing loud and clear from ratepayers" LISTEN ABOVESee omnystudio.com/listener for privacy information.

Over the last week four men have been arrested in Sydney for allegations of involvement in a Sydney-based international paedophile network. The network is said to distribute and facilitate child sex abuse material through a website administered internationally. This was uncovered in an investigation into the online distribution of child sexual abuse material involving ritualistic and Satanic themes. Australian correspondent Oliver Peterson told Heather du Plessis-Allan the men arrested were allegedly part of a media network aiming to expose sex abuse rings. "So it gives the idea obviously that they're there to help, that they're there to uncover these sorts of rings, but the people involved are allegedly also paedophiles themselves," Peterson said. LISTEN ABOVESee omnystudio.com/listener for privacy information.

A survey of more than 30,000 of New Zealand’s Year 10 students shows that the number of teens who vape regularly has dropped by half since it's peak in 2021.  The number of teenagers who vape on a daily basis has also dropped from “peak vape” of 10.1% in 2022, to 7.1%. Auckland Grammar headmaster Tim O'Connor says he has noticed the shift but doesn't know what it can be attributed to. "I don't know what's going on to tell you the truth. I don't know whether it's us being more effective, or the messages happening, or if it's just random," he told Heather du Plessis-Allan. LISTEN ABOVESee omnystudio.com/listener for privacy information.

On the Heather du Plessis-Allan Drive Full Show Podcast for Friday, 28 November 2025, police have arrested more people in relation to a huge drug smuggling ring at Auckland Airport. A trial to only collect rubbish from Aucklanders every two weeks is off to a bad start. The council has revealed that almost 80% of the feedback has been negative. Consumer NZ has revealed the worst deals you can buy for Black Friday. After years of being mothballed, Waiwera Thermal Springs is getting revamped - the man behind the redevelopment explains the vision. Plus, the Sports Huddle debates what the heck is going on at Cricket NZ and whether the proposed new T20 competition would save or ruin the local game. Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.See omnystudio.com/listener for privacy information.

I've reached the conclusion that when it comes to the banks and mortgage rates, the only option you've got left is to hustle. You're on your own here. It has been 2 days since the Reserve Bank cut the official cash rate, and by how much do you think the big banks have cut their fixed rates? No, not a jot. Not, not a single basis point. Absolutely nothing has come off their fixed rates. It's not particularly helpful from the banks cause, you know, we're trying to get the country out of recession and the point of cutting the OCR is that the mortgage rates come down and then when you refix, you've got more disposable cash and the more cash you have, the more you're gonna spend and the faster we're gonna get out of this recession. So thumbs up and thanks very much to the big banks for not helping. Obviously, it's smart business for them. They need to make as much money as they can. The prediction is they will eventually cut the OCR cut their mortgage rates, but it'll be next year. It won't be this side of Christmas, and no one's going to be able to force them. There is, everybody has fired all their bullets at this stage. The Reserve Bank's cut as much out of the OCR as it can. The critics have written their columns, have given their interviews. Nothing's happened. The government's accepted all the recommendations of the select Committee inquiry, and I think we all know that that's a damp squib. And to be honest, when it comes to the government, for them to do anything meaningful to the banks, it would have to be. Something as massive as breaking up ANZ and ASB and the horror that that would send through the investment community would potentially be worse than us paying too much in mortgage interest rates at the moment. So, The only conclusion you're gonna reach is that you're on your own. No one is coming to save you from the banks. No one's gonna force them to pass on the OCR cuts if they don't want to. You're gonna have to hustle. So when you refix, demand a better rate. Look at what the advertised rate is and then tell them to shave 50 basis points off and if they don't cross the road to another bank that will. That is competition. You're on your own. LISTEN ABOVESee omnystudio.com/listener for privacy information.

A three-month long investigation has revealed that many of the offers available this Black Friday are not the bargain they may seem to be.  Consumer NZ conducted an investigation into Briscoes, Noel Leeming, Farmers and Harvey Norman, and found that customers could have picked up the same items at a similar or lower price over the three-month investigation.  Consumer NZ's Head of Research Gemma Rasmussen told Heather duPlessis-Allan that, 'there's so much hype around Black Friday, but the deals are a little dubious.' She said that it's important consumers do their research before hitting the shops.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Tonight on the Huddle: Sports Commentator Nicky Styris and NewstalkZB's own D'arcy Waldegrave join Heather duPlessis-Allan to discuss the latest sports news. NZ Cricket CEO Scott Weenink is in hot water over his stance on the proposed T20 league, will it cost him his job? The international Judo Federation has allowed Russian athletes to compete again, breaking away from many global sports organisations who banned Russia after their invasion of Ukraine. And when will we finally get confirmation about Liam Lawson's future in F1? LISTEN ABOVESee omnystudio.com/listener for privacy information.