New Zealand: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for New Zealand

February 8, 2016

Preview Citation

Format: Chicago

New Zealand: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for New Zealand, (USA: International Monetary Fund, 2016) accessed September 18, 2024

Summary

The 2015 Article IV Consultation provides an overview of New Zealand's economic development and policies. Tailwinds have supported the economy's strong growth after the global financial crisis. However, the tailwinds have recently waned. Growth peaked at 3.5 percent year-over-year in the fourth quarter of 2014, bringing output slightly above potential. The exchange rate depreciation has cushioned some of the impact of the decline in dairy prices. The depreciation has mitigated the impact of the international dairy price decline on farmers' incomes and supported exports of travel and education services. Fiscal policy is also supportive of the economy in the short term, while consolidation is projected to resume in the medium term.

Subject: Banking, Fiscal policy, Housing, Housing prices, Income, Inflation, National accounts, Prices

Keywords: CR, Dairy price, Exchange, Exchange arrangement, Global, House price inflation, Housing, Housing prices, Income, Inflation, ISCR, Liability positions vis-à-vis nonresident, Money market rate, NZ dollar depreciation, Price

Publication Details

Pages:

48
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/039
Stock No:

1NZLEA2016001
ISBN:

9781484398654
ISSN:

1934-7685

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