NZ Deputy PM Robertson: Not concerned on the long-term outlook for New Zealand dollar

New Zealand (NZ) Deputy Prime Minister and Finance Minister Grant Robertson is making some comments on the monetary policy and the exchange rate value on Thursday.

Key takeaways

“Monetary and fiscal policies need to be coordinated, to work together.”

“As interest rates rise they'll restrict demand.”

“A recession is not needed for New Zealand.”

“Not concerned on the long-term outlook for the New Zealand dollar.”

Market reaction

NZD/USD is extending its upsurge on the above comments, trading at around 0.5800, up 1.12% on the day.