New Zealand Reserve Bank 'prepared to intervene' in FX markets - governor

graeme-wheeler

The governor of the Reserve Bank of New Zealand, Graeme Wheeler, has said the bank would like to see a cheaper New Zealand dollar, and that he and his colleagues "believe the exchange rate is significantly over-valued" relative to a sustainable level.

In a speech to the New Zealand Manufacturers and Exporters Association in Auckland, Wheeler said cutting the benchmark Official Cash Rate has a "relatively weak" relationship to the level of the exchange rate, and quantitative easing is "not

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