SYDNEY—New Zealand’s financial system is well placed to handle rising interest rates and uncertainty in the international financial system, the Reserve Bank of New Zealand said in its latest report card on financial stability. New Zealand households are facing increased debt servicing costs due to rising interest rates, but levels of loan default are low, RBNZ Governor Adrian Orr said in a statement. “To date there have been limited signs of distress in banks’ lending portfolios, with only a small share of borrowers falling behind on their payments,” Mr. Orr said. “This reflects the ongoing strength of the labor market…
You May Also Like
NATO chief visits Kyiv for first time since Russian invasion
He noted Thursday’s announcement by Denmark and the Netherlands that they plan…
- SuccessDigest
- April 20, 2023
U.S. hits 40 million Covid cases as Delta variant spreads
The United States logged 40 million Covid-19 cases since the start of…
- SuccessDigest
- September 5, 2021
Bar shooting suspect identified as retired California police sergeant embroiled in divorce from wife
A veteran Southern California police officer was identified Thursday as the man…
- SuccessDigest
- August 24, 2023
Beijing threatens response to ‘unacceptable’ Covid measures imposed on Chinese travelers
Sweden’s Public Health Agency said Tuesday that it had urged the government…
- SuccessDigest
- January 3, 2023