A podcast discussion with Brad Olsen, Infometrics Principal Economist, explores a significant increase in physical cash in New Zealand wallets, attributing it to multiple factors including climate events, preparedness, holiday spending, and drug-related activity, while suggesting
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Well, I mean, we know that the drug monitoring data shows that we have been consuming more drugs as a country over time. So I think that's part of it. Whether or not it's sort of the whole thing. I mean, we're talking some pretty big numbers there in terms of the changes. In terms of, you know, $100 notes, there was an extra $1.76 million $100 notes this time, this year compared to last year. I'm not sure it's all going to be drug money, but I think that's the thing. There's probably no one answer. I think it's a combination of. of all of those changes. It is interesting, though, in the context of the Reserve Bank saying that they need to do a huge amount to save and protect how we use cash across the country, these numbers sort of suggest there might not be much saving that needs to happen for the cash system. It seems to be doing just fine.
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families hoarding cash for future purchases
Brad Olsen: Infometrics Principal Economist on an extra $1bn physical cash in Kiwi walletsSocial-media signal on the same topic, drawn from the social lens. Engagement is likes + 2×shares + 3×replies, the same weighting used across the digest cards. View on /social →
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