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Speaker 1: Very so, per senior political correspondence with US now High Barry,

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Speaker 1: good afternoon. As the government claiming credit for the inflation

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Speaker 1: coming down sufficiently to have an OCR cut again.

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Speaker 2: Well your cockles will be warmed, no doubt, Heather, and

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Speaker 2: it seems that we all should be feeling much warmer

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Speaker 2: as a result of this fifty point drop. Nikola Willis

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Speaker 2: cheerfully gave us one example. A family with a five

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Speaker 2: hundred dollars five hundred thousand dollars mortgage on a twenty

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Speaker 2: five year term would expect to be better off by

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Speaker 2: about one hundred and eighty bucks a week, she says.

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Speaker 2: But that's providing the bank drops the rate from seven

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Speaker 2: to five point seven five percent. I don't see bank

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Speaker 2: dropping rates that much. I haven't seen them come down

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Speaker 2: that much. The average mortgage interstraight in New Zealand is

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Speaker 2: just under eight percent, seven point ninety four percent.

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Speaker 1: Is this floating?

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Speaker 2: No, that's that's the average floating. Sorry, and the fixed

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Speaker 2: rate is five point nine percent. But if you listen

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Speaker 2: to Adrian or it's both good and uns certain news,

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Speaker 2: with all saying there's likely to be another fifty basis

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Speaker 2: point cut in the OCR early next year. But warns

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Speaker 2: of a slow recovery.

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Speaker 3: Economic growth is expected to recover during twenty twenty five

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Speaker 3: as lower interest rates encourage investment and other spending. Employment growth, however,

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Speaker 3: it is expected to remain weak until at least mid

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Speaker 3: twenty twenty five, and for some financial stress will take

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Speaker 3: time to ease. The Monasty Policy Committee agreed that having

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Speaker 3: consumer price inflation close to the midpoint of its target

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Speaker 3: ban puts US in the best position to respond to

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Speaker 3: any shocks to inflation looking forward.

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Speaker 2: So that's good and sort of good news. I suppose,

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Speaker 2: of course, the government like you indicated earlier as putting

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Speaker 2: a very glossy picture or painting a glossy picture on

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Speaker 2: the latest fall. It's a year since they were sworn

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Speaker 2: in today on they're beginning their first day today. Mister

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Speaker 2: Nicola Willa says they've delivered what they said they would.

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Speaker 4: We promised that with careful fiscal management, we'd get inflation

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Speaker 4: back under control. We have. We promised that when inflation

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Speaker 4: was back under control, interest rates would drop.

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Speaker 1: They are.

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Speaker 4: We promised we would deliver fiscally neutral tax relief to

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Speaker 4: three point five million New Zealanders.

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Speaker 2: We have.

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Speaker 4: And for those who say, oh, well, it's just inevitable

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Speaker 4: that inflation and interest rates come down. Just look over

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Speaker 4: the ditch.

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Speaker 2: Yeah, well the Ossie rate is about the same as

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Speaker 2: ours two point eight percent. And mortgage rates, She's right,

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Speaker 2: the mortgage rates are still pretty high in Australia, about

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Speaker 2: seven point or seven and a half percent. So you

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Speaker 2: know New Zealand's are doing slightly better than Australia but

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Speaker 2: not significantly.

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Speaker 1: Well what on the are you measuring it on the OCR.

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Speaker 2: On the mortgage rates when the OCR there?

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Speaker 1: Yeah, I'm not quite sure what Jesus has taking us

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Speaker 1: a while to do slightly better than they've been doing

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Speaker 1: better than us the whole other time.

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Speaker 2: That's right.

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Speaker 1: Hey, so tomorrow is it tomorrow or is it today?

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Speaker 1: That it was the first day in they begin.

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Speaker 2: Their first day?

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Speaker 3: Ye?

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Speaker 2: Today, it was a year ago. Yeah, And I know

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Speaker 2: whether you saw the Winston Peters interview in the Herald today,

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Speaker 2: it reminded me of just what the situation was like

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Speaker 2: in the lead up to the last election when you

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Speaker 2: came to particularly David Seymour and Winston Peters. Seymour had

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Speaker 2: described Winston Peters as a crook and the least trustworthy

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Speaker 2: people person in New Zealand Politics, and Peters responded and

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Speaker 2: kind of calling Seymour a political cuckold from EPSOM and

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Speaker 2: comparing him to Chihuahua barking at the front gate. And

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Speaker 2: they are now sitting around the cabinet table in coalition.

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Speaker 2: But it was interesting also I thought that you remember

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Speaker 2: the prime or not the Prime minister. Then the leader

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Speaker 2: of the opposition, Chris Luxon, was constantly being asked whether

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Speaker 2: he would sit down with Winston Peters after the election.

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Speaker 2: He equivercated all the way through, and then finally he

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Speaker 2: said that yes, he would pick up the phone to

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Speaker 2: Winston Peters if necessary. And it's interesting to me to

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Speaker 2: see these three personalities and who is actually getting on

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Speaker 2: better at the moment. And I suggest that Winston Peters

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Speaker 2: is getting on much better with Chris Luxon, maybe because

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Speaker 2: he's overseas or he's been overseas for much of the

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Speaker 2: past year than what David Seymour now I reckon.

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Speaker 1: Because he's he's just more flexible on his principles.

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Speaker 2: Well, you know, he has been round of politics and

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Speaker 2: a long more tea.

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Speaker 1: He's much more pragmatic, isn't he He is.

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Speaker 2: More pragmatic and David Seymour, he knows what he wants

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Speaker 2: and he sets out to get it. But sometimes he

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Speaker 2: obviously gets under one not sometimes quite a lot gets

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Speaker 2: under Chris Luckson's skin.

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Speaker 1: Tell you what, Let's have a look at the next

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Speaker 1: election though, see which of these two parties goes up

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Speaker 1: or retains as much of their their vote show and

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Speaker 1: we'll know which is the right approach to take. Hey,

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Speaker 1: so when is this David Seymore Willy Jackson debate going

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Speaker 1: to happen?

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Speaker 2: It's not going to happen. Well, what David Seymour has said,

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Speaker 2: and I've had messages to him, to Dan, he's responded

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Speaker 2: that he's not going to debate Willie Jackson unless Willie

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Speaker 2: Jackson apologize, apologizes for calling him a liar. Well, Jackson

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Speaker 2: refused to do that in the house, and remember he

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Speaker 2: has kicked out by Jerry Brownlee and Seymour would argue

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Speaker 2: that you've got to have better parliamentary standards and the

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Speaker 2: factor is hitter. It's quite easy for Willy Jackson to

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Speaker 2: get a debate with David Seymour simply by asking him

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Speaker 2: a question.

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Speaker 1: In the house.

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Speaker 2: In the House, and he's able to do that. Do

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Speaker 2: you know he's only done it once in the past year. Well,

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Speaker 2: I suggest to Willie he gets his thinking cap on,

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Speaker 2: sits down and comes up with a good question and

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Speaker 2: they can have a debate to and fro in the house.

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Speaker 1: Right advice, actually, Barry, Thank you very much, barrisso for

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Speaker 1: seeing your political correspondent.

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