RBNZ’s Conway Warns Tariff Uncertainty May Cool NZ Investment, Inflation

Reserve Bank of New Zealand Chief Economist Paul Conway said uncertainty created by the United States’ new tariffs is likely to curb business investment in New Zealand and exert downward pressure on inflation. Conway told reporters the central bank is still gauging the full impact of the measures and is monitoring incoming data “closely,” adding that the tariffs are expected to weaken global demand more broadly. He also noted that preliminary numbers suggest economic growth slowed in the June quarter, while second-quarter consumer-price figures were broadly in line with the RBNZ’s forecasts.