>> New Zealand's youngest prime minister in more than 150 years. Labour's Jacinta Ardern has ended the National Party's decade in power.>> I feel extraordinarily honored and privileged>> And it's been a remarkable rise for the 37 year old, she was only appointed to the Labour Party top job in August, just weeks out from the September 23rd election
>> It was a last minute gamble for Labour, hoping to ride a global sea of change that drove Britain to leave the European Union and Donald Trump to become US president. Until then it was expected to be slam dunked by the incumbent National Party.>>
>> Ardent's charisma and rapid rise in popularity has been compared with other youthful and global leaders, like Canada's Justin Trudeau and France's Emmanuel Macron.
The road to the top wasn't smooth. The inconclusive general election saw Labour and National with an even chance to form a government. Neither party had enough seats to form a majority in Parliament. Instead, the role of kingmaker went to the small nationalist New Zealand First Party, who held the country in a political limbo for a month.
>> What our perception was the people of this country, regardless of what a lot of people say, did want change.>> Labour proposes tighter immigration and a restrictive housing policy. It will mean big implications for the world's 11th most-traded currency, the central bank, immigration, and foreign investments. The announcement of the new government drove the New Zealand dollar to its lowest level in four and a half months.
Markets are worried about more protectionist policies to come.