Graeme Wheeler is governor of the Reserve Bank of New Zealand, he is speaking to the DairyNZ Farmers’ Forum in Hamilton on the significance of dairy to the New Zealand economy:
- Says NZ dollar is overvalued
- Says NZ dollar level is not sustainable
- Says New Zealand’s reliance on foreign savings puts pressure on rates and the NZD
- NZ currency strength will curb inflation
- Says currency will be a factor in assessing rate rises
- Says if NZ dollar stays high in face of worsening fundamentals RBNZ could sell currency
- Says dairy industry has a bright future
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Its not unusual for Wheeler to use his public appearances to try to talk down the NZ dollar … and he is at it again
