Financial Times recaps the NZ policy news & NZD moves:
- The kiwi slid from an intraday high of $0.7003
- The policies, include pledges to reform the Reserve Bank Act, which will likely see an expanded role for the country's central bank in foreign exchange rate controls, as well as a crackdown on foreign buyers of residential property and a range of social policies
FT piece is here, may be gated
On the Financial Times 'expanded role for the country's central bank in foreign exchange rate controls' - this is something NZ First would like, but there was no specific announcement on anything like this today.
If you would like a good rundown summary of what was announced, check this out:
Prime Minister designate Jacinda Ardern and New Zealand First Leader Winston Peters have agreed to a coalition agreement that includes a mechanism to ban non-residents from buying existing homes and a $1 billion regional development fund.