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Economics
3 mins to read

Banks pass stagflation sniff test

RBNZ stress test shows retail banks would be okay in a high inflation/negative GDP environment.

Illustration: Michael Hickmott.

New Zealand’s banking system could handle the effects of stagflation, according to modelling from the Reserve Bank.

The central bank has completed the 2022 Bank Solvency Stress Test and found the local banks could withstand a scenario of high inflation matched with negative GDP.

Deputy governor

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Banks pass stagflation sniff test
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