Reserve Bank of New Zealand Assistant Governor Karen Silk spoke with Reuters in an interview.
- Said that there were “definitely reasons to be concerned” about the weakness in China’s economy
- consumer spending down
- high debt in the property sector
- the levers China had used previously to keep growth going were going to be harder to pull
- “There are definitely some challenges there (in China), for sure”
- “The pressures that we’re starting to see offshore around that global growth … that’s the risk that we see on the downside through the medium term”
China is New Zealand’s largest trading partner.
On Wednesday the RBNZ held the cash rate unchanged:
Reserve Bank of New Zealand Assistant Governor Karen Silk
This article was written by Eamonn Sheridan at www.forexlive.com. Source