Reserve Bank of NZ
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The positives we take from the budget were the reduction of ACC levies, some increases in R&D grants, the ability to claw back R&D funding if a firm moves its R&D offshore, some tax breaks for high R&D start up firms and the Reserve Bank of New Zealand (RBNZ) explicitly given the power to expand the use macro-prudential tools.
All these moves fit with a market that sees the U.S. growth dynamic slowly favoring a Fed retreat from QE (initial claims today reinforced the message from the April employment report), while the BOJ has its foot flat on the accelerator, and other [central banks, notably the Reserve Bank of Australia and the Reserve Bank of New Zealand] have attempted to weaken their currencies this week
We are pleased to see the Reserve Bank of New Zealand (RBNZ) commit to putting new tools into place for increasing reserves for high Loan to Value Ratio loans as well as some currency intervention.More quotes »
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