Borrowers – and banks – face uphill squeeze even as the economy stabilises

RBNZ deputy governor Christian Hawkesby (Image: NZME)

Wed, 01 Nov 2023

Homeowners will be putting twice as much of their disposable income towards their mortgage than they did in 2021, even as rising take-home pay gets increasingly gobbled up by more expensive consumer goods and services.The Reserve Bank of New Zealand's (RBNZ) six-monthly financial stability report showed the nation’s financial system remains in good health, but warned a severe deterioration in the labour market continues to pose a key risk.Government figures out on Wednesday show the unemployment rate creeping higher to a still hi...

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