NZGB bond programme increased at BEFU
Stuart Ritson -
New Zealand Debt Management (NZDM) updated the borrowing programme alongside the Budget Economic and Fiscal Update (BEFU). Government funding requirements have increased by a further NZ$12 billion compared to the Half Year Economic and Fiscal Update (HYEFU) in December, reflecting a weaker fiscal outlook than previously expected. The further increase in the bond programme takes place against a backdrop of already elevated issuance from a historical perspective.
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