RBNZ deputy gov Bascand in a scheduled speech 22 Nov
- NZ consumers more prudent since GFC, spending less of windfall from rising household wealth
- consumer caution has contributed to low inflation in NZ
- expects per=capita consumption to pick up over time, wary in case it does not
- NZ not facing secular stagnation as some other developed economies
- NZ working through prolonged but temporary debt overhang
Nothing of note. NZDUSD 0.7057 in retreat on general USD demand after failing above 0.7080
