There's no doubt that the turning point is more obvious now and the signs of a further slowdown are clear.

This is without a doubt the biggest win we have had since I've been at Mercer. Our pitchers were as sharp as they possibly could be and really set the tone. We took advantage of the chances we had at the plate and played outstanding defense.

If they don't see that evidence, it may well regenerate the case for a further rate hike.

It's not an environment to be seriously thinking about cutting interest rates. The economy is going through a soft landing, rather than a hard one. Inflationary pressures probably won't have much chance to dissipate.

Forget the interpretations of recession. We're still talking about a relatively stretched economy. There is no justification for the Reserve Bank to abandon the firm interest- rate outlook.

There's been a definite negative turn in sentiment toward the kiwi. This reflects all those macroeconomic factors that we thought would inevitably start to be a noose around its neck. The growth profile is weakening.