Gavin Friend

speaker

7,937 appearances 60 recordings 1 series first heard Sep 2024 last heard 2 Sep

Gavin Friend’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 29 in all, peaking in Oct 2025 with 5.

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NAB Morning Call · Softer CPI, RBNZ itching to hike, hope drives oil lower · 27 May 2026 podcast

We think a key focus will be whether discretionary spending slows or shows a further softening. voice-verified

Our spend trend data shows notable underperformance in travel related spending, but it's unclear whether this reflects a broader easing amid one off factors such as travel related refunds. voice-verified

Other discretionary spending categories have been more resilient. voice-verified

So you know, we're still feeding our way through these numbers and seeing, you know, what the picture is telling us. voice-verified

Yes, it was. voice-verified

Um, as you say, on hold. voice-verified

Uh but it was the closeness of the of the decision. voice-verified

So the three external um voting members voted to hike, the three internal RBNZ staffers wanted to to hold, leaving Governor Bremen to cast the deciding vote. voice-verified

Uh perhaps no surprise that she sat with the staffers. voice-verified

Uh and at the end of the day, uh they all agreed that rates will likely need to voice-verified

rise at upcoming meetings. voice-verified

We have four meetings to go this year. voice-verified

The market reaction was contained, I guess reflecting the fact that the market has for some time been anticipating the need for higher rates. voice-verified

And the question really has been when would it come? voice-verified

And you know, markets have basically thought that December was too late, October will be accusations of interference voice-verified

With the election, so therefore it's September. voice-verified

But of course, as we've gone through and extended this Iran uh the uh energy shock, you know, markets have been pushing that forward towards and and now the market is is coalescing around uh July. voice-verified

Hi. voice-verified

Uh our colleagues at BNZ have uh updated their forecast again now with the first move coming, I say with the with the move coming uh voice-verified

i in in in July uh and then two other hikes in the remaining three uh meetings of this year. voice-verified

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