Increased global trade barriers —like Donald Trump's tariffs— are continuing to slow down New Zealand's economic recovery.
Infometrics is drastically reducing its GDP growth forecast from 2.6% to just 1%.
Many economists now expect the Reserve Bank to go harder for longer with OCR cuts, despite a likely rise in inflation.
ASB Chief Executive Vittoria Shortt told Mike Hosking many businesses don't know how they'll be affected by the global uncertainty.
He says confidence had started to reappear but is now dampening as things start going on hold.
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The Mike Hosking Breakfast