Kiwibank expects NZ dollar to weaken through 2023

Kiwibank expects NZ dollar to weaken through 2023
The kiwi has been on an upward swing but not everyone expects it to last. (Photo: Getty)
Dan Brunskill
Economists at Kiwibank are expecting the New Zealand dollar to decline during 2023 as the global recession keeps investors glued to safe-haven currencies.The kiwi dollar had a difficult year in 2022 as economic uncertainty and falling asset prices made anything deemed ‘risky’ unattractive.  It was down roughly 18% at 55.5 US cents in October, on recession fears, but had since regained some strength and was trading at 63.27c on Wednesday afternoon.Kiwibank’s research team said this boost was due to global central banks tig...

More Economy

December inflation likely on target
Economy

December inflation likely on target

Annual inflation likely around 2.1%-2.2% in the December quarter.

Rebecca Howard 20 Jan 2025
Manufacturing activity has contracted for 22 consecutive months
Economy

Manufacturing activity has contracted for 22 consecutive months

New Zealand’s manufacturing sector contracted in December, marking the first time in the survey’s history that all 12 months were in contraction. The seasonally adjusted Performance of Manufacturing Index (PMI) for December was 45.9, up from 45.2 in November but still well below...

Rebecca Howard 17 Jan 2025
Bank economists expect OCR rises in 2026
Economy

Bank economists expect OCR rises in 2026

‘A number closer to four takes the cash rate to neutral,’ says BNZ's Stephen Toplis. 

Gregor Thompson 17 Jan 2025
Westpac records soft December retail spending
Economy

Westpac records soft December retail spending

Despite a slight lift, Westpac data points to a soft end of year for household spending.Westpac’s retail tracker, released on Thursday, showed spending on Westpac-issued credit and debit cards was up 2% in December compared to last year.  Westpac senior economist Satish Ranchhod...

Staff reporters 16 Jan 2025