U.S., Mexico launch formal trade talks, Canada not included

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The lunchtime event was hosted by Grasshoppers Hawke’s Bay, an organisation representing a diverse network of farmers, growers, processors, and rural professionals across the region. Speaking to key themes from the May 2026 Monetary Policy Statement, Dr Breman discussed the Monetary Policy Committee’s decision to hold the OCR at 2.25 percent in the May 2026 MPS. “The global economic backdrop remains uncertain, with supply chain disruptions and higher input costs weighing on the outlook,” Dr Breman said. “Overall, New Zealand and our trading partners are likely to see weaker growth alongside higher near-term inflation in response to the Middle East conflict.” She said domestic conditions reflect subdued confidence and uneven performance across sectors with some business, such as those within the primary sector, still performing well while other sectors are struggling. RBNZ Gov Breman sees ongoing uncertainty around inflation. RBNZ Governor Breman says uncertainty in the global economy persists due to supply chain pressures and elevated input costs NZ Governor Breman: Middle East conflict is expected to weigh on growth while lifting near-term inflation in New Zealand and partner economies NZ GOVERNOR BREMAN SAYS INTEREST RATE HIKES MAY COME SOONER AND BE BIGGER THAN EARLIER GUIDANCE SUGGESTED ...