Prime Minister John Key has acknowledged the high currency is tough for exporters, but said intervention by the Reserve Bank was unlikely to be successful because it had not worked overseas and the New Zealand economy continued to be seen as more attractive than the US economy.
He said he did not want to risk taxpayers' money on intervention when there was no certainty of success.
Markets continued to re-rate the US economy, making New Zealand relatively more attractive, he said.
Should the Govt act to lower the NZ dollar? Here is the latest selection of Your Views:
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Paul says"If these industries aren't bringing money into the country, the banks have to borrow it from overseas to lend to businesses and people to pay for everything we want, and that won't go on forever."
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Jerry says"Absolutely not. We are now in a free market economy which includes the highs and lows of the currency cycle."
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