New Zealand's (NZ) Finance Minister Nicola Willis said in a speech on Thursday that The (government's) deficit is expected to be larger next year than it is this year, before starting to improve.' Additional quotes Treasury estimates structural operating deficit of around 1.5% of GDP in current financial year.
New Zealand's Finance Minister Nicola Willis said in a speech on Thursday that The deficit is expected to be larger next year than it is this year, before starting to improve. Additional quotes Treasury estimates structural operating deficit of around 1.5% of GDP in current financial year. Expect an uplift in capital funding in the budget. The NZ governemnt is set to release the release its budget and fiscal forecasts on May 30. Market reaction NZD/USD is defending 0.
To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD.
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