The management of risks through calibrated quarantine restrictions, the expected revitalization of key industries due to government policy support and structural reforms, and the improvement of the global economy should help the economy to accelerate in 2022.
The annual August Kansas Federal Reserve’s summit of many of the world’s central bankers vividly highlighted our commonality. Inflation has been low and stable, and many labour markets are near their peak loading. New Zealand included. Independent central banks have successfully achieved their inflation goals, promoting economic wellbeing. Yet, there was no vigorous back patting. There were mostly furrowed brows.