Cheques and Balances
CPI & Inflation Data Update: What’s Next For New Zealand? Ft. Kiwibank Chief Economist Jarrod Kerr | Episode 229
Oct 17, 2024
Kiwibank Chief Economist Jarrod Kerr shares his expertise on New Zealand's economic future, spotlighting the impact of recent inflation data and interest rate cuts. He discusses shifts in consumer confidence, the complex dynamics of inflation, and its influence on housing markets. Jarrod also highlights the pressing challenges of housing affordability and the current economic landscape, while projecting a positive outlook for growth and recovery leading up to 2025. A must-listen for economic insights!
32:51
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Quick takeaways
- New Zealand's economy is projected to recover with a 2% growth rate next year, despite currently being in a technical recession.
- Recent CPI data shows inflation has dropped to 2.2%, allowing interest rate cuts that may boost market confidence and recovery.
Deep dives
Economic Recovery Outlook
The current economic forecast suggests a potential recovery, projecting a 2% growth rate over the next year, despite the economy being in a technical recession at present. There is optimism surrounding declining unemployment rates, which may foster a more balanced economic environment. Inflation has stabilized, allowing the central bank to aim for neutral interest rates, setting a solid foundation for growth into 2026 and beyond. This perspective hinges on continued positive trends in the economy, indicating that the worst may soon be behind us.
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