Interest rate pain intensifies
ANALYSIS: It will take time for lower rates to provide relief and households will face headwinds for a while yet.
Consumer arrears hit a seven-year high of 13% of those with financial obligations in January 2024.
Following the fastest RBNZ tightening cycle in New Zealand’s history, some people are still asking whether the impact of higher interest rates will be enough to return inflation to 2%. For others, this may seem slightly strange given the plethora of data showing the economy is struggling after
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