RBNZ points to high private debt as main financial stability risk
New Zealand central bank stresses climate change impact on insurance industry
High private debt levels represent one of the main risks to New Zealand’s financial stability, the Reserve Bank of New Zealand (RBNZ) said today (May 29).
In its May 2019 financial stability report, the central bank acknowledges “the financial system remains resilient to a broad range of economic risks.” However, it thinks “risks remain elevated, and ongoing effort is necessary to bolster system soundness and efficiency.”
The institution stresses high household debt and elevated indebtedness
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