Sally Auld

speaker

5,823 appearances 57 recordings 1 series first heard Sep 2024 last heard 17 Aug

Sally Auld’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 28 in all, peaking in Aug 2026 with 3.

Appearances

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NAB Morning Call · We are over it! · 9 Jul 2026 podcast

But this is what happens in economies that have had, you know, quite deep recessions like the New Zealand economy has had in the last little while. voice-verified

Like you do create a lot of spec capacity when that happens. voice-verified

And so it does mean that when the cycle turns, you can, you know, grow at rates well above trend and get some growth. voice-verified

Pretty, pretty strong data along the way. voice-verified

So I guess the positive take on all of this is that, you know, it's signaling that the New Zealand economy is definitely through the worst and possibly looking at a lifting growth that that might be, you know, surprising people to the upside. voice-verified

Yeah, almost a decade ago. voice-verified

think at the end. voice-verified

At the end of the day, what this is telling us is that the RBNZ is right to sort of say, look, having accommodative monetary policy doesn't feel like the right setting and we need to move back towards something that is at least neutral in terms of the rate policy. voice-verified

Yeah, that's right. voice-verified

So I think we had a couple of months where it sort of felt like maybe there was a bit of a reflationary dynamic taking place in China with the CPI numbers a little bit better. voice-verified

And it feels like we lost a bit of that momentum in June. voice-verified

Part of that was a story around energy prices being lower in June. voice-verified

Part of it was a story around softness in food prices as well. voice-verified

But it does sort of show you that broader story of very low inflation and concerns about voice-verified

uh you know disinflation and deflation in china is is still probably not one that's been put to bed so i think as you said a reflection of this this fact that it does feel like there is a bit of an imbalance between you know demand and supply uh working differently to some other economies where it does feel like there's a bit more supply relative to demand and hence it's difficult to get much in the way of inflation voice-verified

Yeah, that's right. voice-verified

So I don't think anyone was too surprised that the US didn't sign up to extending the USMCA. voice-verified

So it feels like we're just in a world where that will get reviewed every year. voice-verified

But it does leave, I guess, in a tariff policy in that part of the world open. voice-verified

subject to uncertainty. voice-verified

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