New Zealand supplement.(Brief Article)

Over the past five years the New Zealand economy has been remarkably robust growing by 3.7 per cent per annum, significant higher than most of our major trading partners. During this time, both New Zealand's economy and its financial markets have been extremely resilient to turbulence in global markets.

Buoyed by the strong domestic economy and surge in housing market activity, New Zealand's financial institutions have produced outstanding earnings and asset growth in the past 12 months in a low-interest rate, low inflation environment.

In 2003, New Zealand'