Global economy to worsen but NZ well placed to cope: RBNZ

RBNZ said it's possible house prices will fall significantly. (Image: BusinessDesk)

Wed, 02 Nov 2022

The Reserve Bank of New Zealand said the global economic outlook is worsening and will test NZ’s financial system but it’s well-placed to cope.“NZ’s financial institutions are well placed to handle stresses arising from the testing economic environment,” the Reserve Bank of NZ (RBNZ) said.“Banks have strong capital and liquidity positions and profitability and asset quality are high.”While house prices have fallen, the central bank said they are still “above their sustainable level”. A...

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