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).'
Recommended Content
Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Ethena Labs launches new UStb stablecoin backed by BlackRock's BUIDL token
Ethena Labs announced on Thursday that it has released a new stablecoin product, UStb. The new stablecoin will be fully collateralized by BlackRock's USD Institutional Digital Liquidity Fund and function similarly to a traditional stablecoin.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.