WELLINGTON, May 1 (Reuters) - The Reserve Bank of New Zealand said on Wednesday the country’s financial system remains strong as it continues to adjust to the higher interest rate environment.
“New Zealand’s financial system remains well placed to handle a range of severe scenarios,“ the central bank said in a statement.
It added that while global inflation is declining, there remains a risk that new or persistent inflation pressures could mean global interest rates remain restrictive for longer, placing continued pressure on households, businesses and the financial system. (Reporting by Lucy Craymer Editing by Chris Reese)
