- Says NZ bank return on assets is average or below.
- Says exchange rate is issue of concern.
- Says exchange rate a concern for exporters.
- Hard to see significant fall in exchange rate.
- Says NZ consistently draws foreign savings, lifting NZD.
- Says NZ banking makes acceptable rates of return.
- Says NZ$ closely tracks terms of trade.
- Says cash rate cuts may not reduce NZ$.
- Says no easy solution to currency gain.
- Says quantitative easing is sign of desperation.
- Says no correlation between quantitative easing and output.
- Says quantitative easing doesn’t deserve serious thought.
- Says low inflation has long-term benefit for NZ.
- Says has scope to cut interest rates.
I think that about does it for now.
