New Zealand appears to be stuck in an economic malaise. Household debt has never been higher, wage growth tends to lag, and gross domestic product per capita (everyone's share of the economic pie) annual growth has been shrinking.

According to Trading Economics, household debt to income in New Zealand reached an all-time high of 163.90 per cent in the fourth quarter of 2018 and remained unchanged in 2019.

And this was with interest rates already at record lows. Solution? Cut interest rates further. The Reserve Bank slashed its official cash rate this week to a new record low of 1

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