New Zealand fin min Robertson says Economic environment remains challenging | Forexlive

New Zealand Finance Minister Grant Robertson:

• Economic environment remains challenging
• Projections for
  budget spending are ‘responsible’
• Not prepared to
  deliver an austerity budget

Last week we received data from NZ confirming an economic recession. Robertson is correct on the ‘challenging’ environment. The RBNZ looks set to hold rates high to drive inflation further towards target.