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Chris Small: ABC Business Sales CEO on the impac of the OCR being cut to 2.5%

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Manage episode 512404058 series 2098285
Content provided by NZME and Newstalk ZB. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by NZME and Newstalk ZB or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

The biggest upshot of the latest OCR cut is likely to be the boost to consumer confidence.

The Reserve Bank's slashed the cash rate by 50-basis-points to 2.5%.

Major banks are responding by lowering floating and flexible rates after already lowering their fixed-term rates in recent days.

ABC Business Sales Chief Executive Chris Small told Mike Hosking businesses will benefit more indirectly from increased consumer spending, than directly from falling interest rates.

He says interest costs are only a small portion of a person's actual business costs, and businesses will always prefer for revenues to rise than for costs to fall.

LISTEN ABOVE

See omnystudio.com/listener for privacy information.

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8040 episodes

Artwork
iconShare
 
Manage episode 512404058 series 2098285
Content provided by NZME and Newstalk ZB. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by NZME and Newstalk ZB or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

The biggest upshot of the latest OCR cut is likely to be the boost to consumer confidence.

The Reserve Bank's slashed the cash rate by 50-basis-points to 2.5%.

Major banks are responding by lowering floating and flexible rates after already lowering their fixed-term rates in recent days.

ABC Business Sales Chief Executive Chris Small told Mike Hosking businesses will benefit more indirectly from increased consumer spending, than directly from falling interest rates.

He says interest costs are only a small portion of a person's actual business costs, and businesses will always prefer for revenues to rise than for costs to fall.

LISTEN ABOVE

See omnystudio.com/listener for privacy information.

  continue reading

8040 episodes

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