Bollard on making sense of a rising exchange rate

SPEECH - In the speech 'Making sense of a rising exchange rate' Alan Bollard of the Reserve Bank of New Zealand said however much we can understand, after the event, what has driven the exchange rate, neither economists and central bankers (nor anyone else) has a great track record forecasting exchange rates. Most observers do expect some further rise in the New Zealand dollars exchange rate over this year but, he added, a year is a long time in financial markets and much can change.

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