New Zealand PM Hipkins: Minimum wage to rise in line with CPI from April

New Zealand’s new Prime Minister Chris Hipkins said on Wednesday, “minimum wage to rise in line with CPI from April.”

Additional quotes

Minimum wage increase has small inflation impact.

The New Zealand income insurance scheme will not continue as proposed.

Policy should be refocused on the expense of living.

Market reaction

NZD/USD is gyrating in a narrow range of around 0.6315, down 0.08% on the day, at the time of writing.