RBNZ Assistant Governor Silk says slowdown in China, easing global growth a risk

<p>Reserve Bank of New Zealand Assistant Governor Karen Silk spoke with Reuters in an interview. </p><ul><li>Said that there were "definitely reasons to be concerned" about the weakness in China's economy<ul><li>consumer spending down</li><li>high debt in the property sector</li><li>the levers China had used previously to keep growth going were going to be harder to pull</li></ul></li><li>

"There are definitely some challenges there (in China), for sure" </li><li>

"The pressures that we're starting to see offshore around that global growth … that's the risk that we see on the downside through the medium term"</li></ul><p>China is New Zealand's largest trading partner. </p><p>—</p><p>On Wednesday the RBNZ held the cash rate unchanged:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-asia-pacific-fx-news-wrap-rbnz-leaves-cash-rate-at-55-as-expected-20230816/" target="_self">ForexLive Asia-Pacific FX news wrap: RBNZ leaves cash rate at 5.5%, as expected</a></li></ul><p>Reserve Bank of New Zealand Assistant Governor Karen Silk</p>

This article was written by Eamonn Sheridan at www.forexlive.com.