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New Zealand prime minister Ardern says a full return to normal at border depends on a COVID-19 vaccine but says COVID-19 restrictions in Auckland to move to alert level 2.

The rest of the country is to move to alert level 1 from Tuesday.

Key comments

  • New Zealand pm Arden says gathering limit in Auckland increased to 100 people.
  • NZ pm Arden says rest of country to move to alert level 1 from Tuesday.
  • New Zealand pm Arden says level 2 in Auckland will remain in place for 14 days.
  • New Zealand pm Ardern says a full return to normal at border depends on a COVID-19 vaccine.

Market implications

The kiwi has enjoyed some optimistic comments recently from officials such as 

Finance Minister Grant Robertson who said “going hard and early means that we can come back faster and stronger,” he said.

This week is all about the RBNZ MPR on Wednesday.

We don’t expect any change on policy, but the tone will be dovish and they may signal an intention to flex the pace of the LSAP more to help flatten the curve, which would take pressure off the NZD,

analysts at ANZ Bank explained.