MARKET OPEN: Budget in focus but weak Wall Street may cast shadow

Thu, 14 May 2020

Domestic investors will be focused on Budget 2020, particularly any targeted help for the business sector, but the mood may be dampened by a sharp fall on Wall Street after US Federal Reserve chair Jerome Powell warned of extended economic weakness but ruled out using negative interest rates.Prime Minister Jacinda Ardern yesterday said New Zealand’s budget is about investment, not cutbacks and it will be a “jobs budget.” There will be keen interest to see if there is any targeted help for sectors like the beleaguered tou...

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