From "low and stable" to "high and uncertain"

We’re sitting down to talk about the current events in the Middle East. (And hope that nothing we say becomes (too) dated in the 48-hours it takes us to hit publish on the episode.) The main point of discussion being the move higher we’ve seen in wholesale rates recently. We reference an upcoming speech from Governor Breman throughout the episode which we’ve now heard and reflected on. And you can find our take on the speech here. But over all the speech emphasised the need to take time to assess. So immediate hikes (as priced in wholesale rates) are highly unlikely. We also discuss a bit on last week's GDP numbers and the risks for growth ahead. It’s not a special guest episode, but you will notice a new face this week. We welcome Alexandra to the kiwi economics team & podcast. And we look forward to her sharing some labour market expertise in future episodes. Hosted by Jarrod Kerr, Sabrina Delgado, and Alexandra Turcu. Follow our economic commentary & insights ⁠here⁠. Any views or information shared in this podcast, while given in good faith, aren't necessarily the view of Kiwibank.