- NZ’s severe external imbalance continues to hint towards a need for a weak NZD and higher interest rates – ANZ
Notícias do Mercado
14 junho 2023
NZ’s severe external imbalance continues to hint towards a need for a weak NZD and higher interest rates – ANZ
Economists at ANZ Bank analyze New Zealand’s current account data and its implication for the Kiwi.
New Zealand remains severely out of balance
The annual current account deficit came in at 8.5% of GDP in Q12023, narrowing from a revised 9.0% in Q4 2022 (was 8.9%).
New Zealand’s net international liability position narrowed $5.5bn from Q4 to a still-whopping $189bn. As a share of GDP it narrowed 2.3ppt to 48.8%.
All up, New Zealand remains severely out of balance, but with tourism recovering, we now appear past the worst of it. That said, it could be a long road to something more sustainable.
All else equal, New Zealand’s severe external imbalance continues to hint towards a need for a weak NZD and higher interest rates.
O foco de mercado
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerAbrir Conta Demo e Página Pessoal