The banks, the current account, the financial and the outlook
DOI:
https://doi.org/10.26686/pq.v5i1.4288Keywords:
offshore ownership, New Zealand–Australia cross exchange rate, Reserve Bank of New Zealand, Financial Stability Report, International Monetary Fund (IMF)Abstract
Some years back I wrote two papers (Bertram, 2001, 2002) about the current account, the exchange rate and the banks. Here I pick up the threads of my earlier analysis as the backdrop to some remarks about the recent decision of the New Zealand government to provide a wholesale deposit guarantee to this country’s New Zealand-incorporated – but mainly Australian-owned – banking sector.
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