Reserve Bank of New Zealand:
- Some households and firms will be challenged by the rising interest rate environment
 - Increasing household debt loads will slow down growth of consumption.
 - There are increased downside risks to the global economic outlook
 - RBNZ expects new residential construction will slow
 - The extent to which economic activity will slow in response to rising rates is uncertain
 
NZD/USD is barely shifting in response to the pearls of wisdom the RBNZ is dispensing in its November 2022 Financial Stability Report