NZ Deputy PM Peters takes credit for lower NZD; not responsible for low business confidence
In an interview with Radio NZ on Tuesday morning, New Zealand’s (NZ) Deputy Prime Minister Winston Peters takes credit for a falling New Zealand dollar, but says the Government is not responsible for falling levels of business confidence.
Key Quotes:
“The Government had affected the value of the New Zealand dollar by announcing a changed perspective on how it would regard the currency, as opposed to the previous government.”
"The previous government wouldn't move a muscle when the dollar was so bad for exporters."
"We've been prepared to say, 'no, no, we're going to look at the Reserve Bank Act', and we've sent a clear signal we're not going to put up with a dollar that's disruptive to our export markets and New Zealand's export-created wealth."
"The Government can set the tone, but not when you're facing inbuilt bias and prejudice... I saw the farming community and Federated Farmers stand by when the dollar was heading toward US82c. Did they said a word; not a word.”
"The dollar's been bouncing around at 65, a far better performing dollar for exporters, and do I hear statements of appreciation from them? No."
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
