Sharp drop in kiwi dollar will need monetary policy response, RBNZ says

Wed, 13 Mar 2013

By Paul McBeth March 14 (BusinessDesk) - A sharp drop in an over-valued New Zealand dollar that created inflationary pressure would need a monetary policy response, according to the Reserve Bank. The Reserve Bank has revised up its projections for the local currency on a trade-weighted basis as the kiwi remains in favour against the backdrop of increasingly upbeat global financial markets and a flood of money from major central banks expanding their balance sheets through quantitative easing. The RBNZ sees the currency staying above 75 on t...

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