Some borrowers would be unable to pay for food and power if mortgage rates rise to 7 percent, potentially triggering a housing collapse, says the Reserve Bank.
NZ’s political leaders must up their game and deliver better long-term transport and infrastructure planning, says the head of the country’s biggest freight company.
New Zealand’s financial system has a clean bill of health, with fears over high house prices and dairy debt reduced but still under scrutiny, the Reserve Bank says.