Banks are being urged to lend a helping hand to families and businesses struggling with rising interest rates. The plea comes from the Reserve Bank as it warns of tough times ahead in the fight against inflation.
Falling house prices and rising interest rates will put homeowners under pressure, and increasing numbers may find the size of their loan is more than the value of their property.
The unemployment rate is also being called unsustainably low. People may need extra help from their banks, which have been making huge profits.
The Reserve Bank says it expects these businesses to help their customers through good times and bad.
Reserve Bank Governor Adrian Orr spoke to Corin Dann.
