Reserve Bank of New Zealand (RBNZ) Governor Christian Hawkesby on Thursday highlighted near-term growth headwinds facing the economy. He noted weaker demand and inflation pressures compared to February and emphasized significant uncertainty around ongoing tariff developments, which could evolve in various ways.
RBNZ Chief Economist Paul Conway expressed a somewhat more pessimistic view on New Zealand’s medium-term productivity prospects. Meanwhile, Assistant Governor Karen Silk projected a modest rise in house prices, driven by expected rate cuts, while cautioning that current housing prices are at the upper end of the sustainable range.
In response to these comments, the NZD/USD pair edged 0.08% higher, trading around 0.5971 at the time of writing.
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