New Zealand Recession?

New Zealand’s finance minister is suggesting his country could be on the precipice of a recession later this year & a flood-induced Q1 contraction in Australia seems assured. Inflationary pressures are building in emerging markets. Thus the need for interest rate hikes and liquidity drainage is a key reason why the equity markets in India, China and Brazil are down 16%, 12% and 11%, respectively, from recent highs.