RBNZ stance increasingly out of line with global peers
ANALYSIS: In ice hockey parlance, instead of waiting to see where the puck’s got to, skating to where it is going would enable the RBNZ to get ahead of potentially bigger economic issues down the line.
Global equity markets have continued their strong run in 2023 – with, for example, the US S&P500 leaping 9% in the first quarter of 2024. This compares with a 2% gain for the NZX50. Over the past 12 months, the divergence between the US and New Zealand is even more pronounced, with the S&P500 up
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