Weekend Edition: From Dairy to Data: Can NZ Outgrow Australia’s Shadow?

Friday 13th February 2026

Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.

Phil grills BNZ Head of Research Stephen Toplis on which central bank played the inflation fight better — the RBNZ with its early hammer, or the RBA with its softer touch. They tear into NZ’s slow growth, a labour market now showing 5.4% unemployment, population pressures, housing distortions, and whether China’s slowdown or Trump‑era geopolitics pose the bigger threat. Plus: can NZ keep leaning on agriculture, is tech finally a real opportunity, and how do the two neighbours stack up on growth, risks and untapped upside.

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