Investor Presentaiton
New Zealand inflation and interest rates.
Demand and supply pressures widespread, interest rates to continue pushing higher.
Inflation (% yr)
Strong demand and shortage of supplies
Economics
15
15
%yr
%yr
% of business highlighting
8
100
a lack of demand as a
8
CPI excluding food, energy and vehicle fuels
constraint
% of business highlighting a
lack of supplies as a
constraint
25
20
Headline inflation
80
00
6
4
RBNZ target band
6
60
4
40
40
2
20
10
10
LO
5
0
0
0
0
2000 2005 2010 2015 2020
2000
2005
2010 2015 2020
2005
2008
2011
2014
2017
2020
Source: Stats NZ
Source: NZIER
2
Unemployment rate (%) and Wage inflation (% year)
Mortgage interest rates (%)
% yr
%
-Unemployment rate (rhs)
10
5
-Wage inflation (lhs)
7
8
OCR
10
-Two-year mortgage rate
Floating rate
8
4
6
3
سر
6
6
CO
5
4
+
2
4
2
2
1
3
0
2
0
0
2005
2009
2013
2017
2021
2010
2012
2014
2016
2018
2020
2022
Source: Stats NZ
Source: RBNZ
120 Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack
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