As global risks escalate, the chief economist of the Reserve Bank of New Zealand calls for reforms.

New Zealand Reserve Bank Chief Economist Paul Conway urged the government to implement structural reforms to improve productivity, and stated that relying solely on monetary policy cannot solve the cost of living crisis. On March 25th, Conway spoke to financial advisors in Auckland, emphasizing that the Iran war and increasingly fragmented and unpredictable global economy have heightened the urgency of ensuring that New Zealand's structural policy settings are resilient, adaptable, and aligned with objectives.