Crossing the wires at present are headlines from a Reserve Bank of New Zealand
research report (I haven’t a link to the report yet) that says:
- the NZD is mor volatile than many peers
- NZD departures from long-term trend can be large
- Monetary policy cannot change the long-term real NZD rate
- Fiscal policy can have a greater impact on NZD rate
- FX intervention unlikely to alter volatility
