Financial system still adjusting to higher interest rates

From rbnz.govt.nz

The full impact of previous interest rate increases globally is still to be seen. A weakening in global demand, particularly in China, has contributed to lower key commodity prices for New Zealand, and we are monitoring developments in the Middle East closely, Mr Hawkesby says. “New Zealand households continue to face higher mortgage repayments. So far, the vast majority of borrowers have been able to manage these increases, but we know some people are struggling and falling behind.” Businesses continue to service debt, although the dairy and commercial property sectors are facing challenges, partly due to higher ... (full story)