{"id":110450,"date":"2025-10-31T10:03:09","date_gmt":"2025-10-31T10:03:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/110450\/"},"modified":"2025-10-31T10:03:09","modified_gmt":"2025-10-31T10:03:09","slug":"rbnzs-gai-u-s-tariffs-delivering-negative-demand-shock-to-new-zealand","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/110450\/","title":{"rendered":"RBNZ\u2019s Gai: U.S. tariffs delivering negative demand shock to New Zealand"},"content":{"rendered":"<p data-start=\"0\" data-end=\"74\" data-v-4026719d=\"\">RBNZ\u2019s Gai says U.S. tariffs a negative demand shock for New Zealand<\/p>\n<p data-start=\"76\" data-end=\"332\" data-v-4026719d=\"\">Reserve Bank of New Zealand Monetary Policy Committee member Prasanna Gai said on Friday that U.S. tariffs have delivered a negative demand shock to New Zealand\u2019s small, trade-dependent economy, adding to the headwinds already restraining growth.<\/p>\n<p data-start=\"334\" data-end=\"652\" data-v-4026719d=\"\">Speaking at an event in Melbourne, Gai said the impact of tariffs, coupled with a broader uncertainty shock, had partly offset the effects of monetary easing undertaken since 2024. <\/p>\n<p data-start=\"334\" data-end=\"652\" data-v-4026719d=\"\">The RBNZ has cut interest rates by 300 basis points since August 2024 in an effort to revive demand and support employment.<\/p>\n<p data-start=\"654\" data-end=\"923\" data-v-4026719d=\"\">Despite those efforts, New Zealand\u2019s economy remains sluggish. With inflation now comfortably within the 1\u20133% target band, markets believe policymakers retain room to reduce rates further if global weakness and trade disruptions continue to weigh on activity.<\/p>\n","protected":false},"excerpt":{"rendered":"RBNZ\u2019s Gai says U.S. tariffs a negative demand shock for New Zealand Reserve Bank of New Zealand Monetary&hellip;\n","protected":false},"author":2,"featured_media":110451,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,79190,139,69],"class_list":["post-110450","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-new-zealand-demand-shock","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/110450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=110450"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/110450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/110451"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=110450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=110450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=110450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}