RBNZ's Bascand: Fiscal stimulus could boost growth next year

New Zealand's economy is close to a turning point and the growth could pick up the pace next year, courtesy of the fiscal stimulus, the Reserve Bank of New Zealand's (RBNZ) Deputy Governor Bascand said on Friday. 

Finance Minister Grant Robertson has asked the Treasury to present projects for a government pipeline of short- and medium-term investments, with details due Dec. 11, according to Bloomberg. 

So far, Bascand's comments have failed to move the needle on the NZD pairs. The NZD/USD pair is currently trading at 0.6550, representing marginal gains on the day.

Key quotes

Strong commodity prices supporting recovery.

Still downside risks but picture more balanced.