A more risky and uncertain global economy We expect economic growth in New Zealand’s trading partners of around 3 ¾ percent this year – a little higher than last year and slightly above the average growth rate over the past 30 years. Growth in trading partner economies (Annual percentage change)  Source: Haver Analytics, RBNZ estimates.
Open finance will involve collaboration and data sharing among incumbent financial institutions and new third-party players such as banks, non-bank electronic money issuers and operators of payment systems. The diversity of participants provides alternative sources of consumer data beyond conventional banking transactions such as utility and bills payments, investments, and insurance choices, providing a rich digital footprint of customer behavior and service needs.