Largest GDP fall in 160 years is 1-in-30 year event for banks: RBNZ

Largest GDP fall in 160 years is 1-in-30 year event for banks: RBNZ
Jenny Ruth
The Reserve Bank is predicting the largest decline in annual GDP in at least 160 years but a central bank official has said that doesn't mean that the coronavirus crisis is a one-in-160 year event."When we talk about one-in-200-year events, you can't just look at an annual change in GDP," Chris Bloor, the RBNZ's financial system policy and analysis manager, told BusinessDesk.While the economy has suffered a deep shock, "we wouldn't see this as anything like a one-in-200-year event for banks," Bloor said."...

More Finance

TVNZ targets one million digital viewers logged in by 2030
Finance

TVNZ targets one million digital viewers logged in by 2030

The latest performance forecast unfolds the broadcaster’s online ambitions.

JPMorgan is revamping Its bank for the superrich
Finance

JPMorgan is revamping Its bank for the superrich

There is a minimum required balance of US$10 million. 

Port of Auckland to pay $45m special dividend to council
Finance

Port of Auckland to pay $45m special dividend to council

The divestment proceeds will be used to top up the Auckland Future Fund.

Oliver Lewis 27 Jun 2025