A New Zealand Herald article.
Ongoing containment of Covid-19 and significant fiscal and monetary support has ensured the New Zealand economy has been resilient to the economic shocks from the pandemic but significant risks remain, according to the Reserve Bank.
New Zealand’s central bank released its six-monthly Financial Stability Report this morning and Reserve Bank governor Adrian Orr said the relatively resilient economy meant the financial system had not been tested as severely as it could have been.
“The banking system has maintained strong buffers of capital and liquidity, and the insurance sector remains well capitalised.”
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