Severe recession remains key risk to NZ's financial system

Severe recession remains key risk to NZ's financial system
The RBNZ has published its six-monthly Financial Stability Report. (Image: NZME)
Rebecca Howard
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...

More Economy

Orr signals another 50bp cut in Feb
Economy

Orr signals another 50bp cut in Feb

RBNZ's governor commented after being told the MPS was more hawkish than expected.

Rebecca Howard 28 Nov 2024
RBNZ cuts by 50bps to 4.25%
Economy

RBNZ cuts by 50bps to 4.25%

The decision was widely expected. 

Rebecca Howard 27 Nov 2024
Weak NZD ahead as rate cuts loom
Economy

Cameron Bagrie: Weak NZD ahead as rate cuts loom

This week's expected rate cut will further underpin a weaker-for-longer NZ dollar.

Cameron Bagrie 26 Nov 2024