New Zealand FinMin Robertson: Should spend cautiously, fiscal rules expected

Dhwani Mehta FXStreet

New Zealand’s Finance Minister Grant Robertson told a news conference on Tuesday, the government should monitor its spending and hinted at the introduction of new fiscal rules in the budget next month.

Key quotes

"It's really important that we use fiscal policy sensibly to be able to make sure New Zealand not only keeps a lid on debt but that we invest in the right things."

“New fiscal rules would be introduced at this year's budget in May after some fiscal targets were previously suspended as the government responded to the COVID-19 pandemic.”

"It is important that we don't cut our nose off to spite our face and take away funding.”

Market reaction

NZD/USD was last seen trading at 0.6735, almost unchanged on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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