Financial Performance and Remediation Update
AUSTRALIA AND NZ KEY ECONOMIC INDICATORS
AUSTRALIAN ECONOMIC INDICATORS (%)¹
NZ ECONOMIC INDICATORS (%)¹
CY19
CY20 CY21(f) CY22(f) CY23(f)
CY19
CY20
CY21(f) CY22(f) CY23(f)
GDP growth²
1.9
-0.9
1.6
4.0
2.3
GDP growth²
1.8
0.1
-1.0
7.8
1.3
Unemployment³
5.1
6.7
4.7
4.2
3.8
Unemployment³
4.0
4.8
3.3
3.6
4.5
Core Inflation4
Cash rate target³
1.4
1.3
2.2
2.3
2.8
Inflation4
0.75
0.10
0.10
0.10
0.75
Cash rate (OCR)³
AUSTRALIAN SYSTEM GROWTH (%)5
1.9
1.4
5.8
2.7
2.5
1.0
0.25
0.75
2.00
2.25
NZ SYSTEM GROWTH (%) 5
FY19
FY20 FY21(f) FY22(f) FY23(f)
FY19
FY20
FY21
FY22(f) FY23(f)
Housing
3.0
3.3
6.5
5.1
5.0
Housing
6.6
6.8
11.6
4.7
3.6
Personal
-4.2
-12.9
-5.3
0.0
1.5
Personal
0.1
-11.8
-9.0
5.9
5.1
Business
3.3
1.9
4.6
4.2
4.5
Business
4.8
-1.4
1.6
4.0
5.7
Total lending
2.7
1.9
5.3
4.6
4.7
Total lending
5.6
3.0
7.3
4.5
4.3
System deposits
3.8
11.7
8.0
7.3
3.4
Household retail
deposits
5.1
9.4
4.5
4.5
4.3
(2)
(1) Sources: ABS, Econdata DX, RBA, RBNZ, Stats NZ, NAB
December quarter on December quarter of previous year
(3)
As at December quarter
(4)
December quarter on December quarter of previous year. For Australia, average of trimmed mean and weighted median indices
(5)
113
Source: RBA, RBNZ, NAB. Bank fiscal year-ended (September). NZ business credit includes credit to Agriculture and is calculated from break adjusted data.
National
Australia
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