New Zealand: Staff Report for the 2006 Article IV Consultation

International Monetary Fund

No 2006/160, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2006 Article IV Consultation highlights that following a vigorous expansion in recent years, a cyclical slowing in New Zealand’s economy commenced in 2005, with growth declining to 2¼ percent. Economic growth had averaged 4¼ percent annually in 2002–04, with domestic demand boosted by large migration inflows, wealth effects from rising housing prices, and income effects from high commodity prices. With slower growth easing resource pressures, inflation is expected to moderate, allowing an eventual easing in monetary policy.

Keywords: ISCR; CR; demand; price; economy; net; inflation expectation; slowing economy; headline CPI inflation; house price inflation; New Zealand financial system; house price growth; IMF information notice system index; Exchange rates; Inflation; Housing prices; Global; Europe (search for similar items in EconPapers)
Pages: 32
Date: 2006-05-04
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