Wheeler sees no need for quantitative easing in NZ, rules out currency intervention; kiwi drops

Thu, 25 Oct 2012

By Jonathan Underhill Oct. 26 (BusinessDesk) - Quantitative easing isn’t required in New Zealand despite calls for the nation to follow major economies in printing money, says new Reserve Bank governor Graeme Wheeler. The kiwi dollar dropped on his comments, marking the second straight day he has moved the currency. “The economy is growing at an annual rate of around 2 percent and the Reserve Bank has scope to lower interest rates if needed,” Wheeler said in a speech to the Admirals’ Breakfast Club in Auckland. Wheeler kept the official cash...

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