New Zealand dollar ‘significantly overvalued’, RBNZ’s Wheeler says

New Zealand dollar ‘significantly overvalued’, RBNZ’s Wheeler says
By Paul McBeth May 8 (BusinessDesk) - The New Zealand dollar, which has gained 11 percent from its lows a year ago on a trade-weighted basis, is “significantly overvalued,” Reserve Bank governor Graeme Wheeler says. He made the comments at a media briefing in Wellington following the release of the bank’s six-monthly financial stability report, which highlighted the risks of an overheating housing market. The bank expects to sign a memorandum of understanding with Finance Minister Bill English shortly to add macro-prudential tools to its in...