March 19, 2020 / 12:13 PM / 14 days ago

BRIEF-Moody's Says Australia And New Zealand Govt's Stimulus Packages Underscore Capacity To Use Fiscal Policy To Support Demand

March 19 (Reuters) - Moody’s:

* MOODY’S SAYS GOVERNMENTS OF AUSTRALIA AND NEW ZEALAND STIMULUS PACKAGES UNDERSCORE CAPACITY TO USE FISCAL POLICY TO SUPPORT DEMAND

* MOODY’S SAYS ECONOMIC RELIEF MEASURES HIGHLIGHT STRONG INSTITUTIONAL CAPACITY OF NEW ZEALAND & AUSTRALIA TO DEVELOP EMERGENCY FISCAL RESPONSES

* MOODY’S SAYS AUSTRALIA’S MEASURES ARE ON SMALLER SCALE, TARGET ECONOMY’S WORST AFFECTED SECTORS, WHEREAS NEW ZEALAND’S USES WIDER RANGE OF FISCAL POLICY TOOLS

* MOODY’S SAYS EXPECT MODERATE WEAKENING IN AUSTRALIA, NEW ZEALAND GOVTS’ FISCAL POSITIONS, WITH AUSTRALIA’S SURPLUS TURNING TO DEFICIT IN FISCAL 2020

* MOODY'S SAYS DO NOT VIEW NEAR-TERM BUDGETARY EXPANSION BY AUSTRALIA, NEW ZEALAND AS SIGNIFICANTLY THREATENING THEIR FISCAL STRENGTH Source text: (bit.ly/394GxWi)

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