From over the weekend:
- New Zealand Finance Minister Bill English said a U.S.-kiwi exchange rate in the “mid-to-high 70s” is sustainable for the economy
- “We have that opportunity ahead of us over the next three or four years of 3 percent growth”
- Said that exporters had struggled with a “historically high” exchange rate against the U.S. dollar, which English said was probably the strongest on average over the past three- or four-years since the 1950s
- For “exporters it’s had quite a positive impact on their productivity and competitiveness,” he said. So the drop in the dollar means “a more profitable export sector, therefore a more diverse one. That’s good news for New Zealand.”
More at Bloomberg
New Zealand finance minister Bill English
