The lift in New Zealand's retail spending in the last few months of 2025 is expected to continue this year, according to a Thursday report by Westpac.
Mortgage rates have dropped after last year's interest rate cuts, but the full impact of the cuts is yet to be absorbed by households, as most of the country's mortgages are fixed with relatively high rates, the report said
However, a third of the fixed-rate mortgages are expected to roll on to lower interest rates in the first half of the year, boosting disposable income and retail spending, the report added.
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