(Recasts with impact of government policies, updates throughout)
By Ana Nicolaci da Costa and Charlotte Greenfield
WELLINGTON, Nov 9 (Reuters) - The Reserve Bank of New Zealand said on Thursday that the impact of the policies of the new Labour-led government was "very uncertain," though the prospect of greater fiscal stimulus led the bank to sound upbeat on growth going forward.
The central bank also said the New Zealand dollar had eased and that, if this persisted, it would boost inflation.
It kept interest rates at record lows of 1.75 percent, as widely expected. The central bank projected a possible rise in rates in June 2019, a quarter earlier than in the August monetary policy statement.
"The Bank has incorporated preliminary estimates of the impact of new government policies in four areas," RBNZ Governor Grant Spencer said in a statement.
These included new government spending, a homebuilding programme, curbs on immigration and increases in the minimum wage.
"The impact of these policies remains very uncertain," the RBNZ said. However, its assumption was that the policies combined would result in more fiscal stimulus than previously expected.
The New Zealand dollar NZD=D4 jumped to a two-week high of $0.6962, from $0.6926 before the release. It was last trading at $0.6948.
The central bank also said "GDP growth is projected to strengthen", having said in September that growth was projected to maintain its current pace going forward.
"I think fiscal policy is the biggest swing factor here," said Philip Borkin, senior economist at ANZ Bank.
"They've factored in things preliminary which we didn't think they would, so that's made them a little bit more upbeat on growth." (Additional Reporting by Swati Pandey in Sydney; Editing by Wayne Cole)