Reported 21 days ago
New Zealand's central bank, the RBNZ, has indicated that the country's economic decline may worsen, citing a reduction in household spending and stalled business investments. Recent reports show the economy has contracted and is likely in recession, with unemployment projected to rise to a four-year high of 5%. Although the RBNZ has begun lowering interest rates to alleviate financial pressures, significant risks remain as the economy adjusts, with banks expected to handle loan defaults despite rising unemployment.
Source: YAHOO