RBNZ governor Hawkesby:
- Strained functioning of global markets create significant problems
- Supply-side impacts from tariffs could impact New Zealand significantly
- A lot of uncertainty about how structural framework of global economy realigns itself due to tariffs
- Most immediate impact is on confidence
- Labour market data highlighted the subdued nature of New Zealand’s economy
- RBNZ will likely lower its projections for global economic activity
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We had the labour market data from New Zealand yesterday.:
