NZ dollar rises on larger than expected $12.1b govt support package

Tue, 17 Mar 2020

The New Zealand dollar shot up more than half a US cent after the government announced a $12.1 billion rescue package for firms and employees hit by the coronavirus crisis. The kiwi jumped as high as 60.96 US cents from 60.41 just before the announcement and had recently settled at 60.75. "I think the size is bigger than what we had expected and the fact that it's just the start" are the immediate positives, said Jarrod Kerr, chief economist at Kiwibank. "More could be bolted on as we go." The government will pump $12.1 billion into th...

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