Financial Times recaps the NZ policy news & NZD moves:

  • The kiwi slid from an intraday high of $0.7003
  • The policies, include pledges to reform the Reserve Bank Act, which will likely see an expanded role for the country's central bank in foreign exchange rate controls, as well as a crackdown on foreign buyers of residential property and a range of social policies

FT piece is here, may be gated

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On the Financial Times 'expanded role for the country's central bank in foreign exchange rate controls' - this is something NZ First would like, but there was no specific announcement on anything like this today.

If you would like a good rundown summary of what was announced, check this out:

Prime Minister designate Jacinda Ardern and New Zealand First Leader Winston Peters have agreed to a coalition agreement that includes a mechanism to ban non-residents from buying existing homes and a $1 billion regional development fund.