Markets, Mystics & Mayhem podcast: Ep51

Published on 14 October 2025

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

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Mary Jo Vergara

Senior Economist
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Sabrina Delgado

Economist

Businesses are finally being heard. The RBNZ delivers 50

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 for 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.

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TAGS

All content is general commentary, research and information only and isn’t financial or investment advice. This information doesn’t take into account your objectives, financial situation or needs, and its contents shouldn’t be relied on or used as a basis for entering into any products described in it. The views expressed are those of the authors and are based on information reasonably believed but not warranted to be or remain correct. Any views or information, while given in good faith, aren’t necessarily the views of Kiwibank Limited and are given with an express disclaimer of responsibility. Except where contrary to law, Kiwibank and its related entities aren’t liable for the information and no right of action shall arise or can be taken against any of the authors, Kiwibank Limited or its employees either directly or indirectly as a result of any views expressed from this information.

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