RBNZ’s Wheeler reiterates over-valued currency, housing dilemma in annual report

Fri, 27 Sep 2013

By Paul McBeth Sept. 27 (BusinessDesk) - Reserve Bank governor Graeme Wheeler has reiterated that his two biggest challenges are the over-valued currency and the housing market, in the 2013 annual report, which shows the central bank made a dividend payment of $175 million in the latest financial year. “The two most significant challenges facing the bank at present are the overvalued New Zealand dollar and overvalued housing market,” Wheeler said in his preamble to the report. Wheeler has had to weigh up a bubbling property market’s potent...

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