1 00:00:00,160 --> 00:00:01,360 Speaker 1: Right, Let's have a look at the state of the 2 00:00:01,360 --> 00:00:03,080 Speaker 1: place with new data. The shows when it comes to 3 00:00:03,200 --> 00:00:06,040 Speaker 1: credit areas, things look stable, but a jump in the 4 00:00:06,080 --> 00:00:10,040 Speaker 1: company's going under. Apparently Monica Lacey is a COO Atcentrics 5 00:00:10,240 --> 00:00:12,120 Speaker 1: and as well as Monica Morning. 6 00:00:11,880 --> 00:00:13,760 Speaker 2: To you, morning mate. 7 00:00:13,920 --> 00:00:15,760 Speaker 1: I'm trying not to be too alarmist about this. The 8 00:00:15,760 --> 00:00:18,120 Speaker 1: heral's got an alarmist sort of headline, and I'm sort 9 00:00:18,120 --> 00:00:21,239 Speaker 1: of sick of alarmist headlines. It doesn't appear people in 10 00:00:21,280 --> 00:00:24,280 Speaker 1: mortgage areas, for example, has never been and doesn't appear 11 00:00:24,360 --> 00:00:26,800 Speaker 1: to be correct me if I'm wrong to be that bad. 12 00:00:26,840 --> 00:00:30,040 Speaker 1: It's one point something percent, which means ninety eight points something. 13 00:00:30,120 --> 00:00:31,920 Speaker 1: Pento doing fine. Is that fair or not? 14 00:00:33,240 --> 00:00:36,520 Speaker 2: That's totally fair. Look, I think that's the headline number 15 00:00:36,680 --> 00:00:39,280 Speaker 2: definitely portrayed in that way can look quite bad. But 16 00:00:39,320 --> 00:00:43,120 Speaker 2: when you take the context of the situation, we're actually 17 00:00:43,280 --> 00:00:47,040 Speaker 2: seeing areas rates for the fifth consecutive months in a 18 00:00:47,159 --> 00:00:50,080 Speaker 2: row below last year's levels, which is a really positive sign, 19 00:00:50,159 --> 00:00:52,519 Speaker 2: and I think that definitely makes a trend. So I 20 00:00:52,520 --> 00:00:56,400 Speaker 2: think that's really important to take into consideration. There's no 21 00:00:56,440 --> 00:00:58,840 Speaker 2: doubt that people are doing it tough out there, but 22 00:00:59,400 --> 00:01:02,160 Speaker 2: it's really a percentage of the population and things are 23 00:01:02,200 --> 00:01:03,480 Speaker 2: starting to get a little bit better. 24 00:01:03,800 --> 00:01:06,680 Speaker 1: When we get to this credit demand thing, I'm always 25 00:01:06,840 --> 00:01:09,960 Speaker 1: it's up nine percent business credit demand that is, is 26 00:01:10,319 --> 00:01:12,720 Speaker 1: that people wanting money because they're aballish and they want 27 00:01:12,720 --> 00:01:14,520 Speaker 1: to expand, or is it people in trouble who need 28 00:01:14,600 --> 00:01:15,440 Speaker 1: some cash. 29 00:01:15,840 --> 00:01:18,240 Speaker 2: It's probably a combination, to be honest, people might be 30 00:01:18,240 --> 00:01:22,679 Speaker 2: shopping around for better rates if there's difficulty and cashlozed situation, 31 00:01:22,880 --> 00:01:25,000 Speaker 2: So it's not just one thing that's made up of 32 00:01:25,000 --> 00:01:26,120 Speaker 2: lots of different contonents. 33 00:01:26,959 --> 00:01:30,039 Speaker 1: Liquidations up to twenty seven percent. Is this the last 34 00:01:30,240 --> 00:01:33,520 Speaker 1: cab off the rank? In other words, the IIDs toughening up, 35 00:01:34,280 --> 00:01:36,679 Speaker 1: they're going through their funding some people that weren't fluid anyway, 36 00:01:36,800 --> 00:01:40,280 Speaker 1: and they're tidying matters up, or are things a bit 37 00:01:40,360 --> 00:01:40,880 Speaker 1: ugly there. 38 00:01:42,319 --> 00:01:44,399 Speaker 2: It's definitely a lag effect, and I think if you 39 00:01:44,600 --> 00:01:48,080 Speaker 2: cast your mind back to COVID, most credit providers really 40 00:01:48,160 --> 00:01:52,240 Speaker 2: altered their collections treatment for many customers, whether you're a 41 00:01:52,240 --> 00:01:55,720 Speaker 2: bank or a power company, things got a little bit 42 00:01:55,720 --> 00:01:57,960 Speaker 2: softer over that period. So I think it is just 43 00:01:58,000 --> 00:02:00,080 Speaker 2: a continuation of a bit of a tidy up of 44 00:02:00,120 --> 00:02:02,400 Speaker 2: all of their historic debt that's sitting there. 45 00:02:03,160 --> 00:02:05,840 Speaker 1: How would you describe the state of the economy as 46 00:02:05,880 --> 00:02:06,800 Speaker 1: you see it? This morning? 47 00:02:08,600 --> 00:02:11,400 Speaker 2: I heard someone on your show actually recently describe the 48 00:02:11,440 --> 00:02:13,880 Speaker 2: economy as we're bouncing along the bottom, and I think 49 00:02:13,919 --> 00:02:16,080 Speaker 2: that's a really apt way to describe it. It just 50 00:02:16,120 --> 00:02:18,040 Speaker 2: feels like we can't quite hid a lea gap. So 51 00:02:19,240 --> 00:02:21,480 Speaker 2: I'd like to hope that as we come into spring, 52 00:02:21,520 --> 00:02:24,200 Speaker 2: and you know, we're really relying on consumer sentiment to 53 00:02:24,240 --> 00:02:28,919 Speaker 2: try and drive things, So hopefully with lower infrastrates out 54 00:02:28,960 --> 00:02:31,200 Speaker 2: the air and a bit more positivity, one might start 55 00:02:31,240 --> 00:02:32,080 Speaker 2: to see some changes. 56 00:02:32,280 --> 00:02:33,920 Speaker 1: Let us hope. So, Monica, nice to talk to you. 57 00:02:33,960 --> 00:02:36,960 Speaker 1: Go well, Monca Laty, who's the chief operating officer at Centrix? 58 00:02:37,520 --> 00:02:39,600 Speaker 1: It is it's the psychological, doesn't it. I keep saying 59 00:02:39,639 --> 00:02:43,280 Speaker 1: it on this program. I mean that it's there. But 60 00:02:43,400 --> 00:02:46,440 Speaker 1: this SURVIVEDAL twenty five thing is not quite as real 61 00:02:46,480 --> 00:02:48,840 Speaker 1: as we thought it would. But they keep relying. My 62 00:02:49,000 --> 00:02:51,359 Speaker 1: question is this and this is as political as much 63 00:02:51,360 --> 00:02:54,880 Speaker 1: as anything as And I'm thinking July they got to 64 00:02:54,880 --> 00:02:57,359 Speaker 1: cut the Reserve Bank twenty five points. I'm thinking August 65 00:02:57,360 --> 00:02:59,760 Speaker 1: they got to cut twenty five points. But if they 66 00:02:59,800 --> 00:03:03,200 Speaker 1: don't own't then what And if we're relying on the 67 00:03:03,320 --> 00:03:06,040 Speaker 1: cheaper money from the banks and we don't spend because 68 00:03:06,040 --> 00:03:08,920 Speaker 1: we're too busy paying the insurance bill and the rates 69 00:03:09,639 --> 00:03:11,679 Speaker 1: and the power, then what 70 00:03:12,560 --> 00:03:15,480 Speaker 2: For more from the Mic Asking Breakfast, Listen live to 71 00:03:15,600 --> 00:03:18,640 Speaker 2: news Talks at B from six am weekdays, or follow 72 00:03:18,680 --> 00:03:20,280 Speaker 2: the podcast on iHeartRadio.