The Mike Hosking Breakfast

BNZ's the latest bank to drop its home loan rates, anticipating a change to the Official Cash Rate this afternoon.   The Reserve Bank's expected to cut the OCR 25 basis point to 3.25%.  Already BNZ's cut its fixed rates to as low as 4.89%, and its standard variable rate to 6.44%.   BNZ chief economist Mike Jones told Mike Hosking today's decision should indicate the Reserve Bank's general direction, but it probably won't reveal anything too specific.   He says that seems to be the playbook offshore, allowing it to take its time and assess the lay of the land at the next meeting.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

There's a belief official 'Run it Straight' events are trying to mitigate head injuries, but has risk written all over it.  Ryan Satterthwaite —a 19-year-old— has died after suffering a serious injury during a private version of the aggressive tackling game in Palmerston North on Sunday.  A championship league final has been blocked from Auckland's Trusts Arena.  Former Kiwis captain Richie Barnett told Mike Hosking the official events are a controlled environment, but heads can end up in the wrong space.  He says it's still impact, which is the problem, as you don't need to have a concussion to have a brain bleed.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A day of celebrations has turned violent in the UK after a car collided with pedestrians at Liverpool Football Club's victory parade.  Authorities say a 53-year-old white British man has been arrested and the area has been evacuated.  47 people were injured – 27 were taken to hospital, two with serious injuries, and 20 treated on scene.  UK Correspondent Rod Liddle told Mike Hosking it doesn’t appear to be connected to terrorism at this stage.  He says the motives are a complete mystery.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The pressure is on the new Reserve Bank fill-in Governor tomorrow.  Although given it’s a committee, in theory he is more of a messenger.  It's reported that we have increased calls for a 50 basis point cut.  Why? Because things aren't flash.  If you read business results in the current reporting season, a lot of commentary tells us the recovery is underway. Things are looking better.  We can certainly see that, for example, with retail spending. The numbers produced just last Friday for the opening quarter of the year are up, and in some parts of the sector they're up quite a bit.  We have seen manufacturing expanding for several months in a row now.  So those are the fact-based statistics. The other measures, like confidence, have dropped. We see people in the doldrums.  But that is a vibe.  Can you find people who are in the doldrums? Of course you can. But does a vibe lead to a lack of action or a lack of spend? Or do we say one thing and do another?  We also read a lot about this “uncertainty”. The uncertainty is of course Donald Trump, because Trump is increasingly seen as insane.  It may well all end in tears, threatening tariffs on Europe one day then delaying it all until July the next.  Against this, the Reserve Bank Governor has to work out whether to drop the OCR by 25 or 50 basis points. If it's 50, does that gee us all up and out we go and fire things up? If so, then next thing you know inflation is sparked up.  Does he go 25 and hint at another 25, and may even another 25?  What does he say about inflation and its uptick already, not just here but globally? Do we have the growth to support any such uptick? Is the uptick driven by actual activity, or still people just putting their prices up?  As someone said, who on Earth would want to be Reserve Bank Governor? And our one isn't even under the constant threat of being fired.  Thank the good Lord that we indisputably have an export-led recovery of sorts. Meat and wine and kiwifruit are doing the business.  But that’s over there, over here we are still in a funk.  So, what to do? Your move Christian.  No pressure then.See omnystudio.com/listener for privacy information.

A common deficiency could be holding you back.  Iron is the most common nutritional deficiency, both globally and in New Zealand, and it plays a role in everything from energy to brain function and development, thyroid function, and anxiety prevention.  Dr Libby Weaver is biochemist, nutritionist, and author, and her latest book ‘Fix Iron First’ delves into the role of iron in the body, and how a deficiency could be impacting your life.  She joined Mike Hosking to discuss her research.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Despite the challenging economic conditions, Turners Automotive is standing strong.  The company announced a record year to March, returning a profit of $38.6 million – a 17% increase.  The result capped off what the company said was a decade of sustainable growth.  CEO Todd Hunter told Mike Hosking the secret to sustainable growth is to provide a great environment for their people.  He says they then provide a great experience for customers, and the combination of those two things delivers a great experience for their shareholders.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Tuesday 27th of May, are police deliberately not investigating retail crimes if the value is under $500?  We have a big recycling problem in this country, but we also have some good old Kiwi ingenuity when it comes to old and bruised kiwifruit.  Health whiz Dr Libby Weaver is back in studio to talk iron, and whether Mike is as healthy as he thinks he is.  Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A year’s worth of plastic waste, once collected for recycling, may now end up in the landfill.  The market for coloured plastics dried up with the closure of Chinese recycling plants, and as a result, the Far North District Council is set to send 190 tonnes of plastic to the landfill.  Sue Coutts, Director of External Affairs for Zero Waste Network NZ, told Mike Hosking it’s no surprise the coloured bottles won’t be recycled, as they’ve known they can’t be for about a decade.  She says there’s plenty of good ideas out there to mitigate the problem, they just need to be implemented.  Coutts says the Government is currently consulting on extending producer responsibility, which would put the problem back into the hands of the ones creating it.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

Kiwi ingenuity has found a new use for the 50,000 tonnes of kiwifruit that is rejected each year.  KiwiLeather Innovations is taking the byproduct and turning it into a plant-based leather alternative.   Founder Shelley Houston told Mike Hosking it takes about 500 grams to make a square meter of the alternative leather.   She says they’re targeting the automotive sector, as brands like Tesla are already using things like cactus leather for their interiors.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Nelson's Mayor says upgrading the city's hospital will be a turning point for its health services.  Completion of a 128-bed inpatient building has been brought forward two years to 2029.  Nick Smith told Mike Hosking the city’s health services have been under real pressure, with the old buildings dating back to 1955 and 1970.  He says it's encouraging not only to have the $500 million upgrade, but also the 32 bed temporary inpatient ward.  Smith told Hosking it gives them both immediate relief, but also enables the redevelopment and earthquake strengthening to be done really well.  LISTEN ABOVE See omnystudio.com/listener for privacy information.