Reserve Bank of New Zealand Governor Christian Hawkesby said the recent rise in unemployment was broadly in line with the central bank’s expectations, reflecting where the economy stands in the current cycle. Speaking to lawmakers on Thursday following the release of the RBNZ’s Financial Stability Report, Hawkesby acknowledged that conditions were “hard out there,” but stressed that the financial system remains resilient even under more severe stress scenarios.He cautioned that global risks remain elevated, pointing in particular to trade fragmentation and the potential for renewed trade wars as top concerns. Hawkesby added that New Zealand’s economy is moving at different speeds across regions and industries, with some sectors coping better than others amid the slowdown. ---The data ICYMI:New Zealand Q3 unemployment rate rises to 5.3% (expected 5.3%, prior 5.2%)NZD under pressure and pushing AUD/NZD to a 12-year high. This article was written by Eamonn Sheridan at investinglive.com.