New Zealand budget: Projects 2014/15 budget deficit of NZ$648m
Quick Headlines on Bloomberg:
- NZ Treasury sees inflation reaching 2% in 4Q 2016
- Treasury sees jobless rate falling to 4.7% by 1Q 2017
- Fin Min English sees option of modest tax cuts in 2017 ... "should fiscal and economic conditions allow"
- English sees GDP growth averaging 2.8% over next 4 years
- Forecasts GDP growth of 2.9% in year through March 2016
- Sees 2015-16 bond sales NZ$1b higher than forecast in December
- NZ increases 2015-16 bond program to NZ$1b, plans 2033 bond
- Projects 2016-17 budget surplus of NZ$1.48b
- Projects 2014-15 budget deficit of NZ$684m (was $272 forecast in D3ecember, so slightly wider)
- Cuts budget surplus forecasts
- Projects 2015-16 budget surplus of NZ$176m
NZD/USD ticking a few points higher:
