An article in the Australian Financial Review today asks the question:
The Reserve Bank of New Zealand this morning confirmed it intervened in the currency markets in April in a bid to push the currency lower.
This is an interesting one, because I suppose it raises the questions, would the RBA do anything similar, and how close does fiddling with the currency get to the G-20’s definition of competitive devaluation?
The rest of the article talks about yesterday’s currency-related events in New Zealand. Ahhh, the good old days! (i.e. yesterday :-))
The article does not appear to be gated: RBNZ confirms intervention in currency markets
