In Leaders Getting Coffee episode 58, our guest Sharon Zollner, Chief Economist at ANZ Bank.

At a time when the economic recovery in New Zealand is threatened, yet again, by a major international shock, we thought it was worthwhile to host one of the Country’s leading economists on Leaders Getting Coffee. And we weren’t disappointed. This week’s guest is one of the most entertaining economists we could wish to speak to.

A self-confessed geeky kid, and cricket tragic, Sharon Zollner grew up in rural Canterbury in a farming family near Methven. She excelled at school, particularly it seems in English and Mathematics, capabilities which influenced her decision to study English Literature and Economics.

She left Canterbury University with a Masters in Commerce and majors in Economics and English Literature, and headed to the New Zealand Reserve Bank to start what has become an amazingly successful career.

A stint with Norway’s central bank followed, where her work included developing a macro economic model for the Norwegian economy.

Returning to New Zealand, her climb up the ranks of Bank Economists has been rapid and she speaks openly about becoming the Chief Economist at ANZ in 2017, just ahead of a change in government and prior to the disruption created by Covid 19.

On the Leaders Getting Coffee podcast Sharon Zollner speaks to Bruce Cotterill about the current state of the New Zealand economy, which she suggests is more resilient that many of us might expect.

She is also refreshingly open about the impacts of war in the Middle East and the associated panic around oil prices and supplies, and the likely stages that economies will go through as the conflict continues.

As you might expect, Zollner reels off economic terms and statistics in an uncomplicated manner that is easy to understand and entertaining to listen to. Her lessons from Norway are interesting given the similarity of that economy to that of New Zealand, and the differing constraints that the two countries must operate within.

Most importantly, she is positive about the current state of New Zealand, despite the obvious headwinds, and one wishes that her enthusiasm for our future should be contagious.

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Jarden analyst reviews last night’s GDT auction, up 0.1%, the sixth consecutive rise. While the result remained basically unchanged, “unders and overs” were all over the place. Whole milk powder down 4%, skim milk powder up 5.2%, anhydrous milk fat up 6.4%, butter down 0.9%, and cheddar up 0.1%.

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Officials are calling out the Government for loosening KiwiSaver withdrawal rules in response to lobbying by Federated Farmers, rather than evidence-based advice.

A newly-released Regulatory Impact Statement shows the Ministry of Business, Innovation and Employment (MBIE) opposed the Government’s proposal to allow KiwiSaver withdrawals for farmland.

NZ Herald Wellington business editor Jenee Tibshraeny explained further.

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Economists are questioning Treasury's 'worst case' economic forecast from the Iran war.

It predicts a worst case scenario of inflation hitting 3.7 percent this year - if the conflict persists.

Independent economist Cameron Bagrie says he doesn't think Treasury has properly taken into account businesses feeling the second-hand impact of rising fuel prices.

"If they've got a reason to push up prices under the guise of what's going on in Hormuz around the globe, firms are going to use that excuse and try to jam in some price rises. We've seen it before."

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Transporting NZ CEO Dom Kalasih says diesel price increase in Australia is lower

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The conflict in the Middle East is continuing on for another week, and it's got experts concerned about the economic impacts.

Iran's blocking shipping in retaliation for the US and Israel bombardment - sending oil prices spiking.

Milford Asset Management expert Michael Luke explained how markets have continued to drop.

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Economists are predicting promising economic results from the last quarter ahead of the ongoing ripple effects caused by war in the Middle East.

GDP data for the December quarter is being released just before 11 this morning.

Both Westpac and ASB are anticipating 0.4% quarterly growth.

ASB Chief Economist Nick Tuffley told Mike Hosking exports have largely been the driver.

But Tuffley says recovery has been uneven, pointing to a weaker construction sector.

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Westpac's chief economist is still holding out hope New Zealand will weather financial headwinds from the Iran war.

Stats NZ's releasing data for the December quarter just before 11am.

Westpac and ASB have forecast 0.4% quarterly growth, while BNZ and Kiwibank suggest 0.3% and ANZ 0.2%.

Kelly Eckhold told Ryan Bridge everyone's looking forward to the conflict's impacts, but he's optimistic.

He says we have strong commodity prices and the exchange rate's helping us out, meaning we're better placed than we could have been.

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