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New Zealand 2016/17 bond buying programme increased
December 8, 2016 / 12:37 AM / a year ago

New Zealand 2016/17 bond buying programme increased

WELLINGTON, Dec 8 (Reuters) - New Zealand’s debt management office has increased its domestic bond buying programme to NZ$8.0 billion, NZ$1.0 billion higher than that announced at the 2016 Budget.

Further out, the forecast bond programme for 2019/20 decreases to NZ$6.0 billion, leaving the total programme unchanged from the 2016 Budget.

The government downgraded its budget surplus estimate for 2016/17, largely due to an estimated NZ$1 billion in net costs related to a devastating earthquake that rocked the island nation last month. (Reporting by Charlotte Greenfield and Swati Pandey)

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