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
