Kiwi’s Cracking Under The Pressure, But RBNZ Says Nothing To See Here!

We had important releases from Stats NZ and The New Zealand Central Bank, which combined highlights a weird and unsettling cognitive dissonance. It was perhaps a matter of perspective, because the focus was on the financial system, not individual households, but given the economy is so strongly connected to what households and businesses do, the stability report appeared unanchored from reality, especially given the prospects of higher rates for longer. And many of the themes we look at here, are relevant to other economies, including Australia too. http://www.martinnorth.com/ Go to the Walk The World Universe at https://walktheworld.com.au/