The economic downturn could get worse - before it gets better
The economic downturn could get worse - before it gets better
5 November 2024
That's the Reserve Bank's view in its latest semi-annual Financial Stability Report.
It says households are reducing discretionary spending - and businesses have put investment plans on hold.
Business confidence is recovering as inflation and interest rates fall, but there is a risk of "significant further weakening" in the economy.
The Bank says the banking sector remains in a good position to support households and businesses, including effectively handling any potential loan defaults.
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