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Hot Topic Hawke’s Bay
Hot Topic Hawke’s Bay
Economics
3 mins to read

RBNZ to maintain stance despite slowing economy: Westpac

With GDP slipping further, New Zealand’s double-dip recession highlights the tough balance between cooling the economy and fostering growth.

WATCH: Westpac senior economist Michael Gordon speaks with Liam Rātana.

Liam Rātana Fri, 22 Mar 2024
Key points
  • What’s at stake: New Zealand faces critical economic challenges as it navigates through a double-dip recession, balancing the need for inflation control with sustainable growth.
  • Background: The deliberate economic slowdown by the Reserve Bank, in response to an overheated economy and soaring inflation, has led to a notable GDP contraction amid rapid population growth.
  • Key players: Reserve Bank of New Zealand, Michael Gordon, wholesale and retail trade sectors.

As New Zealand confirmed its slide into a double-dip recession, with GDP falling by 0.1% in the December 2023 quarter following a 0.3% decrease previously, the spotlight intensified on the Reserve Bank's aggressive rate hikes and their ramifications on the economy.

This downturn marked a significant

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Liam Rātana Fri, 22 Mar 2024
Contact the Writer: liam@nbr.co.nz
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Key points
  • What’s at stake: New Zealand faces critical economic challenges as it navigates through a double-dip recession, balancing the need for inflation control with sustainable growth.
  • Background: The deliberate economic slowdown by the Reserve Bank, in response to an overheated economy and soaring inflation, has led to a notable GDP contraction amid rapid population growth.
  • Key players: Reserve Bank of New Zealand, Michael Gordon, wholesale and retail trade sectors.
RBNZ to maintain stance despite slowing economy: Westpac
Economics,
103296
true