RBNZ’s Hawkesby sees near term growth headwinds
The post RBNZ’s Hawkesby sees near term growth headwinds appeared on BitcoinEthereumNews.com. Reserve Bank of New Zealand (RBNZ) Governor Christian Hawkesby said on Thursday that he sees near-term growth headwinds. Key quotes See near-term growth headwinds.There’s weaker demand and weaker inflation pressures than there were in February.There are a lot of different ways that this could play out from here.There is uncertainty around where those tariffs will land, they could be very different. Meanwhile, RBNZ Chief Economist Paul Conway noted that he’s probably a little more pessimistic on the country’s medium-term productivity performance. Additionally, RBNZ Assistant Governor Karen Silk forecast a modest increase in house prices due to rate cuts. Silk added that New Zealand house prices are at the top end of our sustainable house price range. Market reaction At the time of writing, the NZD/USD pair is trading 0.08% higher on the day to trade at 0.5971. New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level…
The post RBNZ’s Hawkesby sees near term growth headwinds appeared on BitcoinEthereumNews.com.
Reserve Bank of New Zealand (RBNZ) Governor Christian Hawkesby said on Thursday that he sees near-term growth headwinds. Key quotes See near-term growth headwinds.There’s weaker demand and weaker inflation pressures than there were in February.There are a lot of different ways that this could play out from here.There is uncertainty around where those tariffs will land, they could be very different. Meanwhile, RBNZ Chief Economist Paul Conway noted that he’s probably a little more pessimistic on the country’s medium-term productivity performance. Additionally, RBNZ Assistant Governor Karen Silk forecast a modest increase in house prices due to rate cuts. Silk added that New Zealand house prices are at the top end of our sustainable house price range. Market reaction At the time of writing, the NZD/USD pair is trading 0.08% higher on the day to trade at 0.5971. New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level…
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