Suddenly, NZ’s record household debt no longer matters

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By Leith van Onselen

You know it’s an election year when New Zealand’s Finance Minister and senior banking officials seemingly perform a 180-degree turn to downplay the risks relating to New Zealand’s record household debt and over-valued housing. From Interest.co.nz:

‘Move along, there’s nothing to see here’ appears to be the attitude of some of the country’s finance bigwigs, when asked about New Zealand’s high level of household debt.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.