New Zealand’s economic outlook has taken a turn for the worse, with Moody’s downgrading its credit outlook to ’negative‘ from ’stable‘. This decision comes as a stark reminder of the delicate balance the country’s finance minister, Nicola Willis, must navigate. The report highlights a host of challenges, including tight monetary policy, rising debt servicing costs, and weaker growth, all exacerbated by global economic and geopolitical uncertainty, fuel price increases, and stubbornly high non-tradeable housing costs. In my opinion, this downgrade is a wake-up call for the government. It underscores the need for disciplined spending and a clear path to fiscal (Read more…)
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