Kiwi currency still at 'unjustifiable', 'unsustainable' levels, RBNZ says

Fri, 26 Jun 2015

By Tina Morrison June 26 (BusinessDesk) - New Zealand's Reserve Bank reiterated that the local currency is at "unjustifiable and unsustainable levels", conditions that need to be met for it to intervene in the foreign exchange market. Headwinds to New Zealand economic growth include a softening in the Chinese and Australian economies, a sharp fall in dairy incomes and "the persistence of the New Zealand dollar at unjustifiable and unsustainable levels", the central bank said in its 2015-2018 Statement of Corporate Intent. The New Zealand...

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