Nick Tuffley


Chief Economist, ASB Bank

Nick Tuffley was appointed as ASB’s Chief Economist in January 2007, having previously worked at Westpac and the Reserve Bank of New Zealand.  Nick studied at Canterbury University, graduating with a Master of Commerce in Economics. 

He and the rest of the Economics team provide regular analysis of economic developments and the outlook through written publications and media comments.  Their key objective is to help the bank’s clients make better-informed business and personal finance decisions.  The Economics team has won 3 Consensus Economics Forecast Accuracy Awards for their NZ forecasts.

Nick speaks at a variety of functions large and small from gatherings of corporate customers, through industry conferences, to large cocktail functions for customers.  He has spoken in shearing sheds, wineries, art galleries, the Air Force museum, and ambulance stations.  And of course, in recent years he has spent a lot of time Zooming into people’s screens.

There is plenty to discuss at present.  NZ’s approach to COVID has evolved, and with it the way in which the pandemic impacts NZ has changed.  The economy is starting to go back to ‘normal’, driven by business cycle trends.  After a relatively strong upswing in consumer spending and the housing market, growth will start to be led more by business capital spending and earnings from relatively high export prices.  Households and businesses alike will face growing headwinds from rising interest rates and above average inflation.  Meanwhile, the labour market is likely to remain very tight, with organisations continuing to grapple with retention and recruitment challenges.  There are lots of questions to debate, such as how persistent inflation pressures will be, far will interest rates need to rise, how will property markets hold up, how resilient will the global economy be to the continued challenges it faces.

Economist Panel: Wednesday, 24 August, 10.15am 

Nick Tuffley ASB v2 Screenshot 2022 03 25 104904