New Zealand boosts bond program by NZ$4 billion over four years

New Zealand Finance Minister Nicola Willis presents the nation’s Budget on Thursday, with the key highlights noted below.

NZ sees 2024/25 operating surplus before gains, losses NZ$-14.74 bln (HYEFU NZ$-17.32bln).
NZ sees 2025/26 OBEGAL surplus/deficit NZ$-15.60 bln (HYEFU NZ$-14.10bln).
NZ sees 2024/25 net debt 42.7% of GDP (HYEFU 45.1%).
NZ 2024/25 cash balance NZ$-9.99 bln (HYEFU NZ$-16.61bln).
NZ sees 2024/25 GDP -0.8% (HYEFU +0.5%).
Govt does not forecast OBEGAL surplus in next five fiscal years.
Trade tariffs to impact pace of economic recovery.
NZ inflation forecast to remain within target band of 1% to 3% over next five years.
NZ GDP forecast growing 2.9% in 2025/26, 3.0% in 2026/27.

May 22, 2025

WTI slumps to near $61.00, traders await fresh round of nuclear talks between US and Iran

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $61.10 during the Asian trading hours on Thursday. The WTI price edges lower on the report that a fresh round of nuclear talks between the United States and Iran would take place later this week.

Trump told EU heads in private Putin isn’t ready to end war – WSJ

Citing three people familiar with the conversation, the Wall Street Journal (WSJ) reported late Tuesday that “On a call Monday, President Trump told European leaders that Russian President Vladimir Putin isn’t ready to end the war because he thinks he is winning.”