Graeme Wheeler is finding that he can’t be the only major central banker to raise interest rates this year and still expect his nation’s currency to weaken.
New Zealand’s government projected the first surplus in seven years and raised the possibility of future tax cuts in its final budget before September elections.
New Zealand Finance Minister Bill English said the nation’s currency is unlikely to weaken even as economic growth slows and the central bank puts interest-rate increases on hold.
New Zealand’s dollar, the best- performing major currency this year, is too strong and poses a challenge for the nation’s exporters, according to Finance Minister Bill English.
New Zealand’s economic rebound is “patchy” and the government isn’t expecting a significant increase in revenue that would help narrow its budget deficit, Finance Minister Bill English said.
New Zealand’s finance minister called a stronger local dollar an “impediment” to export growth and said it’s difficult to see a case in which the currency advances further this year.
New Zealand’s main opposition Labour party indicated it may curb immigration to ease pressure on housing and health as it prepares for elections in September.
New Zealand’s economic recovery is benefiting from stronger Asian demand for agricultural commodities and export prices that may remain elevated in the next two years, Finance Minister Bill English said.
New Zealand’s opposition Labour party indicated it may curb immigration to ease pressure on housing and schools as it prepares for elections in September.
"New Zealand is among the first developed countries to achieve a return to normal economic settings."
- Bill English on May 14, 2014