New Zealand’s ageing population may drive down rates – study
RBNZ research says “grey wave” may make it harder to stimulate economy with cuts
New Zealand’s ageing population may drive interest rates lower and reduce monetary policy transmission, according to research by the country’s central bank.
The report, The grey wave: exploring the impact of an ageing population on the financial system, was published on July 15. The authors, Enzo Cassino and Anoushka Divekar, say the impact of the country’s ageing population on monetary policy is likely to be felt over several decades.
As workers age, they are expected to increase their savings in
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