New Zealand Finance Minister Robertson says the economy faces significant challenges

Robertson is also New Zealand deputy PM

• says the economy faces significant challenges
• says a global recession is on our doorstep
• economy able to stand up to global recession
• NZ is experiencing a genuine global inflation crisis

Coming up from NZ today:

• Reserve Bank of New Zealand meet Wednesday - preview

• RBNZ +50 or +75 cash rate hike this week - the larger one would prop up the kiwi $

• RBNZ Shadow Board majority view is for a +75bp interest rate hike (cash rate to 4.25%)
• RBNZ meet next week - preview - "likely to deliver an outsized 75bps hike to 4.25%"
• Poll shows most analysts expect a +75bp rate hike from the RBNZ next week

The announcement is due at 0100 GMT

eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term