New Zealand’s recession is ‘necessary’

New Zealand has officially entered a recession however it is seen as a necessary part of steering the economy back on a sustainable path, says ANZ Chief Economist Sharon Zollner. “It’s important to note that this is the plan,” Ms Zollner told Sky News Australia. “So this is a bit different from the typical recession where you get some kind of negative shock and monetary policy goes into overdrive to try and get the economy out of it as fast as possible. “It’s not clear that’s going to be the plan this time.”