Intra-Day Market Moving New and Views NZD/USD
19 Aug 2014
NZD/USD - .... Statement from NZ FinMin Bill English said:
'NZ economy still growing robustly, outlook not changed significantly from budget;
New Zealand govt surplus seen at NZ$297 mln in 2014/15 vs NZ$372 mln in budget;
NZ has limited fiscal headroom for higher spending, tax cuts, spending restraint will remain;
NZ national govt to hold to economic/fiscal policies, tax cuts possible when room to do so;
NZ does not need tax hikes nor sharply higher govt spending in parties' election promises.'
New Zealand Treasury publishes pre-election fiscal update -
'budget surplus forecasts over next four years trimmed because of slower economic growth;
net debt peaking 26.8 pct of gdp in 14/15 (budget 26.4 pct);
slower reduction seen;
NZ net debt seen below 20 pct of gdp by 2021 (budget 2020), superannuation payments to resume then;
NZ debt management office reaffirms budget forecast of NZ$8 bln bond issuance in 2014/15;
NZ economic momentum is slowing, as terms of trade ease, growth forecasts trimmed;
NZ govt tax take expected to be slightly less than budget forecasts as growth slows;
2015 march yr GDP +3.8 pct (budget 4 pct);
reaffirms later year forecasts; inflation 2015 March yr 1.7 pct (budget 1.8 pct); 2016 at 2.4 pct (budget 2.5 pct).'
19 Aug 2014
NZD/USD - .... Statement from NZ FinMin Bill English said:
'NZ economy still growing robustly, outlook not changed significantly from budget;
New Zealand govt surplus seen at NZ$297 mln in 2014/15 vs NZ$372 mln in budget;
NZ has limited fiscal headroom for higher spending, tax cuts, spending restraint will remain;
NZ national govt to hold to economic/fiscal policies, tax cuts possible when room to do so;
NZ does not need tax hikes nor sharply higher govt spending in parties' election promises.'
New Zealand Treasury publishes pre-election fiscal update -
'budget surplus forecasts over next four years trimmed because of slower economic growth;
net debt peaking 26.8 pct of gdp in 14/15 (budget 26.4 pct);
slower reduction seen;
NZ net debt seen below 20 pct of gdp by 2021 (budget 2020), superannuation payments to resume then;
NZ debt management office reaffirms budget forecast of NZ$8 bln bond issuance in 2014/15;
NZ economic momentum is slowing, as terms of trade ease, growth forecasts trimmed;
NZ govt tax take expected to be slightly less than budget forecasts as growth slows;
2015 march yr GDP +3.8 pct (budget 4 pct);
reaffirms later year forecasts; inflation 2015 March yr 1.7 pct (budget 1.8 pct); 2016 at 2.4 pct (budget 2.5 pct).'
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