Global uncertainty at its highest level in decades – RBNZ

RBNZ chief economist Paul Conway spoke to Business NZ about the shifting economic landscape. (Image: NZME)

Thu, 24 Jul 2025

Tariffs are likely to mean a weaker global economy and weaker demand for New Zealand’s exports, but the fall in export demand is likely to be much smaller than what occurred during the Global Financial Crisis, says central bank chief economist Paul Conway.“The imposition of tariffs and shifting rates have pushed global uncertainty to its highest level in decades,” he said in a speech to Business New Zealand.For New Zealand, the Reserve Bank (RBNZ) assessment is that these developments mostly represent a negative demand shock t...

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