From Grind to Growth: New Zealand Shifts Into Gear

The past three years have been challenging for New Zealand households and businesses. Unlike past downturns sparked by global crises or financial shocks, this one was engineered at home. The Reserve Bank of New Zealand (RBNZ) lifted interest rates aggressively to contain runaway inflation, suppressing economic activity along the way. The medicine has worked, inflation is back under control, and interest rates have fallen sharply — but not without cost.