The Reserve Bank says New Zealand is headed for a recession, but what does that even mean? Unless you’ve spent the past few days under a rock, your ears are probably ringing with the word “recession”. In a pretty grim update on Wednesday the Reserve Bank predicted New Zealand will tip into a recession next year, albeit a “shallow” one. * Live: Recession needs to happen, Adrian Orr says after OCR hike* Reserve Bank statement shows 'things are worse than we thought'What is a recession? NZ Parliament Reserve Bank governor Adrian Orr fronts up to MPs in wake of hawkish monetary statement.

Source: Stuff November 24, 2022 22:05 UTC