NZ First leader Winston Peters says he is feeling the pressure of the coalition negotiations, and any decision he makes will cause "disappointment and anguish".

This afternoon, Peters wrote on his Facebook page that he and his team were working towards a decision "as fast as we can".

"We are all sworn to secrecy to ensure we have frank and open discussions. You will all know as well as us that, whatever decision we make, it will cause disappointment and anguish. That's reality ... and there is no escaping that."

Asked about the post on the way to his second meeting with National this evening, Peters responded: "This is not the All Blacks hitting the field. This is politics, right? And before you even get on the paddock, there are a whole lot of people that don't want you to be there, some want you to be there and some want you to win, some want you to fail - that's politics. And we're being realistic about it."

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Following his second meeting with Labour this afternoon, Peters was asked if he felt the weight on his shoulders.

"All my colleagues do, and so do the board."

Asked how far through the programme he was, he said: "Who would know? Because there may be other things that are being worked on and reported back by other parties to us, which will enlarge the discussion, or abbreviate it.

"You wouldn't expect to talk to people and have an exact agreement right on the spot without people [having] a chance to go away, check out the facts, check out the other side of the argument, check out figures and calculations against theirs. So that's pretty normal."

He would not say if he would make an announcement on Thursday, saying only he would "let you know in the fullness of time".

He and his team have scheduled two more meetings each with Labour and National tomorrow - the same as today.