NZ Deputy PM Robertson: Not concerned on the long-term outlook for New Zealand dollar
|New Zealand (NZ) Deputy Prime Minister and Finance Minister Grant Robertson is making some comments on the monetary policy and the exchange rate value on Thursday.
Key takeaways
“Monetary and fiscal policies need to be coordinated, to work together.”
“As interest rates rise they'll restrict demand.”
“A recession is not needed for New Zealand.”
“Not concerned on the long-term outlook for the New Zealand dollar.”
“The global situation is extremely difficult.”
“Fiscal stabilization is required.”
“An earlier surplus would involve austerity cuts.”
“The number one issue cited by businesses is labor supply.”
“The fiscal impulse will turn contractionary.”
Market reaction
NZD/USD is extending its upsurge on the above comments, trading at around 0.5800, up 1.12% on the day.
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