From a New Zealand Treasury fortnightly report issued March 15 (bolding mine):
- A range of indicators released over the fortnight confirm New Zealand is in the midst of a severe economic slowdown and implies there was another quarter of roughly flat GDP in December and ongoing declines on a per capita basis.
PM Luxon spoke to this last week:
Anyway, that's the reason being cited for the kiwi $ sell off. AUD and CAD were hit too so I'd take it with a grain of salt.
And its all coming back as I update:
