Reserve Bank says earlier underspending will enable it to lift spending next year

Tue, 26 Jun 2018

By Tina Morrison June 26 (BusinessDesk) - The Reserve Bank of New Zealand, which is tasked with maintaining a sound and efficient financial system for the country, keeping prices stable, and supplying the currency, expects to spend more than its agreed funding allows for next year as it takes advantage of earlier underspending. The RBNZ's budget shows it expects to spend $69 million in the year ending June 30, 2019, which is $7.7 million above the $61.3 million set out in a funding agreement between the finance minister and the Reserve Ba...

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