The Mike Hosking Breakfast

The intentional killing of women and girls is now its own crime in Italy.   Lawmakers unanimously backed a bill making femicide a specific crime punishable by life imprisonment.   Prime Minister Giorgia Meloni called the measure a tool to "defend the freedom and dignity of every woman".  Italy Correspondent Jo McKenna told Mike Hosking it looks very much like a symbolic gesture.  She says she’s not sure how you would prove the murder of someone is related to their gender, as opposed to some other factor.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Reserve Bank Governor is leaving the job tomorrow with no major regrets about the pace of OCR cuts.  The cash rate's dropped 25 basis points to 2.25%.  Forward-projections suggest this will be the end of the current cycle of OCR cuts, with inflation expected to ease and the economy expected to recover in the new year.  Governor Christian Hawkesby told Mike Hosking they've been responding to circumstances.  He says they've been dealing with a stall in economic recovery while focusing on their mandate of controlling inflation.  Hawkesby says it's hard to say exactly why New Zealand's recovery has stalled more than other countries, telling Hosking there isn't one clear reason for the downturn this year.  He says it's a bit of a puzzle, with tariffs and cautiousness both playing a role, and that's why last month's cut was needed to kickstart the economy.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A public policy think tank is pushing the Government to take advantage of social impact bonds. The model means the Government only pays providers when they achieve results for a particular problem.   It had previously been used for the Genesis Youth Trust, which reduced youth reoffending by 30%.   Maxim Institute Researcher Thomas Scrimgeour told Mike Hosking the beauty of social impact bonds is that it allows highly flexible and customisable interventions.  He says you can target the people who are most vulnerable, not just the easy options.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

A suggestion most Northland businesses are ready to move on rather than seek compensation over widespread power outages.  In June last year, an inexperienced worker removed nuts from three of a pylon's legs causing it to fall over cutting power to almost the entire region.  The opt-out class action against Transpower and its lines maintenance contractor is being backed by Australian financing firm Omni Bridgeway.   North Chamber Chief Executive Leah McKerrow told Mike Hosking local businesses are ready to move on, if it's been learnt from.  She says businesses would rather see investment in energy resilience and roading rather than try to take on a government-owned entity.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Don't bank on any further cuts to the Official Cash Rate.  The Reserve Bank's dropped the cash rate 25 basis points to 2.25%.  It expects to see inflation ease and the economy recover.  Kiwibank Chief Executive Steve Jurkovich told Mike Hosking this could very well be the bottom of the current OCR cycle.  He says there's lots of talk about green shoots in the economy, although much of this has been in farming.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

It's the Reserve Bank outing this week.  One last hurrah for the year. It has a certain anticlimax about it, doesn't it?  It's probably going to be 25 basis points. 25 points is priced in by just about everyone.  There is a chance it's zero. Next to no one says 50 basis points.  Infometrics last week had the Q3 GDP number at 0.9% and I'm told the Q2 number is going to be revised up, which means if you add all that to the Q1 number then we've actually had a pretty decent year.  "What? Are you mad? How can you say that?", I hear you say. Well, don’t shoot the messenger.  These are either facts, or expert predictions. Either way they are to the right side of the equation. The point being is that's the sort of thing the Reserve Bank looks at.  Is inflation in its box? Well, it’s a smidge high, given it’s 3%, so right at the top end, but technically still within the 0-3% range.  If we cut further, they will ask, do we risk driving that number a bit higher through increased bullishness and spending? Quite possibly.  Now I'm not personally arguing for a hold. But if you want to toss a few ideas about the place, that isn't a bad one. A case can be made for holding, for saying inflation is there or thereabouts and that the economy has got no shortage of green shoots, and 2026 looks okay so our job is done.  The psychological advantage, no matter what they do, is not to be underestimated either. "If this is it, it's as good as it gets. It's as low as they go".  Then a lot of people will make decisions around money and mortgages, and a lot of people have been holding. They've been in the waiting place and, as Dr. Seuss said, "the waiting place is no place for you".  In a funny way it might also shake us out of our funk. We are disproportionately miserable, not because of reality, but because it's been so bad and we need a kick up the backside to get on with it.  Maybe Christian Hawkesby, in his farewell flourish, offers not just the 25 basis points but a bit of uplifting hyperbole as he steps out the door.  They have cut six times this year. We could end 2025 at 2.25%. It started at 4.25%. Shows you what a mess we have dealt with.  But I get the sense the page has turned. See omnystudio.com/listener for privacy information.

Ukraine and the US are signalling they're nearing a proposal to end the war as Russia maintains its uncompromising position.  Ukrainian and US officials have negotiated details of a proposed 28-point peace plan in Switzerland.  A US official's told reporters Ukraine has agreed to a peace deal, but there were still some minor details to be sorted out.  US Correspondent Richard Arnold told Mike Hosking it appears several key issues have still been set aside, including the new territorial boundaries, the size of an ongoing Ukrainian military, and the proposed ban on NATO troops inside Ukraine.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

On the Mike Hosking Breakfast Full Show Podcast for Wednesday the 26th of November, RMA Reform Minister Chris Bishop explains why they want to scrap regional councils.   Estonia has the highest education results in Europe, and now their Education Minister is in New Zealand to check out how our reforms are panning out.   Mark Mitchell and Ginny Andersen cover off Michael Wood, regional councils, Greg O'Connor and Craig Rennie on Politics Wednesday.  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.

Today on Politics Wednesday Mark Mitchell and Ginny Andersen delve into the proposal to scrap regional councils, replacing them with boards made up of local Mayors.  They also cover off Labour's seat selections, with MP Greg O’Connor missing out on the selection for a new seat, and former Labour MP Michael Wood's move to re-enter politics.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Thousands of cases of amputation and vision loss could be prevented thanks to diabetes monitoring technology.  Continuous Glucose Monitors, or CGMs, have been funded for Type 1 diabetes since last October.  New data from CGM producer Dexcom finds lifetime use of the devices could prevent up to 70 thousand diabetes-related complications and save the country $50 thousand a day.  Diabetes New Zealand Chief Executive Heather Verry told Mike Hosking funding should be expanded to all diabetes patients.  She says Pharmac is only funding for Type 1, and at $200 a month, these devices are unaffordable for everyone else.  LISTEN ABOVE See omnystudio.com/listener for privacy information.