This week, Elliot Smith, Kiwibank’s Chief Customer Officer – Business, joins us to unpack the mood across Kiwi businesses.

We're diving into the impact of the RBNZ’s circuit-breaking 50bps rate cut. As Elliot puts it, the move feels like the RBNZ is finally hearing the struggles of Kiwi businesses. But while there’s been a sense of relief, caution still lingers. Businesses are starting to feel like it’s time to take action, but hesitancy remains. Amid tough operating and financial conditions, the inaction around expansion decisions have been an ongoing theme. However, with monetary policy finally at stimulatory settings, the environment is becoming more conducive to growth. Heading into the new year, conditions are ripening for momentum to build.

We also discuss the performance of the business bank and the current lending landscape. It’s more competitive than when Elliot last joined us, but Kiwibank continues to play an outsized role. Plus, Elliot sheds light on Kiwibank’s startup+ pilot programme with Ministry of Awesome, designed to support innovative businesses that are harder to collateralize. It’s all about opening doors, backing good ideas, and building strong businesses that aren’t tied to the property cycle.

Hosted by Jarrod Kerr, Mary Jo Vergara and Sabrina Delgado.

Follow our economic commentary & insights here: https://www.kiwibank.co.nz/business-banking/thrive-hq/kiwi-economics/commentary-insights/

Any views or information shared in this podcast, while given in good faith, aren't necessarily the view of Kiwibank.