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Key: Interest rate spike biggest risk to NZ's economy
John Key has signalled a rapid and unexpected rise in interest rates and "something big that happens internationally" as the biggest threats to the New Zealand economy. "Almost every recession we've had is driven by real interest rates going up," says Key. "This is the big risk." New Zealand has been enjoying economic growth at 3.6 per cent of GDP - the highest grow rate in the OECD - on the back of a 70-year low in interest rates. In a recent address to Westpac customers, Key traversed some rosy economic statistics. But the prime minister was also keen to highlight potential risks which could drive a recession in New ... (full story)
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IF,BUT,MAYBE,WHEN IT GETS TO, WAITING FOR
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