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- NZ FinMin Robertson: Government budget would focus on fiscal sustainability to keep inflation under control
NZ FinMin Robertson: Government budget would focus on fiscal sustainability to keep inflation under control
New Zealand Finance Minister Grant Robertson said on Thursday that the government budget to be released next week would have a focus on fiscal sustainability as the government does its bit to keep inflation under control, reported Reuters.
“Inflation in New Zealand is tracking at 6.7%, well above the central bank's target range of 1% to 3%, and economists have warned that a boost in government spending could mean inflation stays higher for longer,” adds the news.
On a different page, New Zealand's Food Price Index for April eases to 0.5% MoM from 0.8% prior and 0.4% market forecasts.
More comments from NZ FinMin Robertson
We are committed to playing our part in bringing it down, including by reducing our spending as a percentage of the economy over the coming years.
New Zealand's fiscal position remains strong, the country is resilient, and spending was now tracking back toward the low-30% of GDP range.
NZD/USD remains sidelined
NZD/USD edges higher to 0.6365 amid early Thursday in Asia, after refreshing a five-week top the previous day.
Also read: NZD/USD bulls step back in as Wall Street rallies
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