Kelly Eckhold: Westpac Senior Economist on the potential impact of the conflict in the Middle East on NZ's economic recovery
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Kelly Eckhold: Westpac Senior Economist on the potential impact of the conflict in the Middle East on NZ's economic recovery
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About this listen
New Zealand's economic recovery could be put at risk by disruption in the Strait of Hormuz.
Westpac modelling shows if it was to stay closed for a month, it would put inflation over 4% and knock half a percent off GDP.
Senior Economist Kelly Eckhold told Mike Hosking we're much more vulnerable than Australia when it comes to energy.
He says we only have a few weeks of key petroleum products sitting in the tanks, and after that we’re relying on boats turning up to meet our needs.
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