Reported 21 days ago
New Zealand's central bank has issued a stark economic outlook, highlighting rising unemployment and postponed business investments due to financial strains. The Reserve Bank of New Zealand's latest Financial Stability Report revealed significant domestic economic challenges, exacerbated by slowing global growth and high interest rates. While the economy is projected to have contracted in the last quarter and sentiment remains low, the central bank maintains that the financial system is stable, with banks prepared to handle potential increases in loan defaults.
Source: YAHOO