The Bank of New Zealand (BNZ) today warned businesses and investors to carefully watch gathering economic storm clouds in the year ahead.
Saturday, December 13th 2003, 6:55AM
by The Landlord
"Short term all the news is good, (but) we are starting to develop the unsettling feeling that things could turn to custard if we are not now very careful," BNZ economist Stephen Toplis said.
The year ahead would see the economy maintain its momentum, but 2005 was "the danger year as far as we are concerned".
The soaring New Zealand dollar, the likelihood of official cash rate increases, a fall-off in net migration and the possibility of a property pull-back were factors.
