RBNZ’s Wheeler prepared to ‘scale up’ currency intervention as kiwi overvalued by 18 percent

Wed, 29 May 2013

By Paul McBeth May 30 (BusinessDesk) - Reserve Bank governor Graeme Wheeler is prepared to ramp up the scale of the bank’s currency intervention as he looks to keep a lid on the kiwi, which is 18 percent above its 15-year average. The central bank has “undertaken some foreign exchange transactions” in recent months to take the heat out of the exchange rate, and will boost the size of that intervention if it sees the opportunity, Wheeler told the Institute of Directors in Auckland. Central bank figures later today will show the size of last...

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