New Zealand Finance Minister Bill English said the nation’s currency is unlikely to weaken even as economic growth slows and the central bank puts interest-rate increases on hold.
New Zealand’s economic rebound is “patchy” and the government isn’t expecting a significant increase in revenue that would help narrow its budget deficit, Finance Minister Bill English said.
New Zealand’s finance minister called a stronger local dollar an “impediment” to export growth and said it’s difficult to see a case in which the currency advances further this year.
"We are in the unusual but encouraging situation where we have solid economic growth, more employment and higher wages, but few pressures on inflation."
- Bill English on Dec 17, 2014