Budget 2024 may ruffle the RBNZ's feathers

RBNZ governor Adrian Orr will be crunching the numbers after the Budget release. (Image: BusinessDesk)

Fri, 31 May 2024

Finance minister Nicola Willis says Budget 2024 is doing what it can to reduce the pressure on interest rates, but economists don’t think the Reserve Bank of New Zealand will see it that way. The Budget included promised tax changes offset by spending cuts to ensure the policy mix was fiscally neutral. “We are reducing the contribution that fiscal policy is making to inflationary pressures,” Willis said. Treasury’s forecasts – contained in the Budget economic and fiscal update – seemed to bac...

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