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- The Reserve Bank of New Zealand Governor Graeme Wheeler: the country's financial system remains sound, a slowdown in China's economic growth was a risk for New Zealand
The Reserve Bank of New Zealand Governor Graeme Wheeler: the country's financial system remains sound, a slowdown in China's economic growth was a risk for New Zealand
The Reserve
Bank of New Zealand Governor Graeme Wheeler said today:
- The
financial system in New Zealand remains sound, but there are still risks from
the high levels of debt in the household and dairy sectors;
- House
prices are overvalued;
- A
potential decrease in China's property prices and shadow financing system is a
risk for New Zealand;
- Strong
deposit growth has helped to reduce the reliance of the banking system on
offshore funding.
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