Severe recession remains key risk to NZ's financial system

The RBNZ has published its six-monthly Financial Stability Report. (Image: NZME)

Tue, 05 Nov 2024

Financial stability risks remain contained in New Zealand as the country nears the bottom of the economic cycle, the Reserve Bank of NZ says.“The financial system is well positioned to continue providing credit to the economy, even if the downturn gets worse,” it said in its latest Financial Stability Report. The Reserve Bank of NZ (RBNZ) noted that high debt-servicing costs continue to squeeze household budgets, but mortgages rolling off fixed rates are starting to reprice at lower rates.“We expect the average mortgage...

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