Trump govt could hit NZ growth, dollar, and inflation, warns BNZ

Donald Trump. (Image: Getty)

Tue, 12 Nov 2024

The Donald Trump presidency probably means lower New Zealand growth, a weaker NZ dollar, higher inflation, and higher interest rates than would otherwise be the case, the Bank of New Zealand says.BNZ head of research Stephen Toplis said Trump has promised aggressive tariff protection of the US industry, which doesn't bode well for exporters.While there are many unknowns, “some sort of protectionism is a given, and this will be negative for global growth as some of the benefits of globalisation unwind”, he said.Meat, wine and cas...

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