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New Zealand central bank warns more borrowers could fall behind on payments

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Published Tue, May 2, 2023 · 06:46 AM
    • THE Reserve Bank of New Zealand said it was not seeing widespread financial distress among households or businesses but warned more borrowers could fall behind on their payments this year.
    • THE Reserve Bank of New Zealand said it was not seeing widespread financial distress among households or businesses but warned more borrowers could fall behind on their payments this year. PHOTO: REUTERS

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    NEW Zealand’s central bank on Tuesday said it was not seeing widespread financial distress among households or businesses but warned more borrowers could fall behind on their payments this year given the expected weakening in the labour market.

    Household balance sheets remained resilient, with most households with a mortgage still having substantial equity buffers partly due to the impact of previous loan-to-value ratio curbs, Deputy Governor Christian Hawkesby said in a statement. REUTERS

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