News

NZ credit rating outlook lowered by S&P

Tuesday 13th of January 2009

The revision reflects New Zealand’s “narrowing economic policy flexibility in light of the country's widening external imbalances, as evidenced by the sizeable current account deficit,” S&P credit analyst Kyran Curry said in a statement. The New Zealand dollar tumbled to a four-week low after the statement.

The nation’s current account deficit widened to $15.5 billion, or 8.6% of gro...

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