Bloomberg News

New Zealand’s English Says Currency Intervention Not a Panacea

November 16, 2011

Nov. 9 (Bloomberg) -- New Zealand Finance Miniser Bill English said encouraging the central bank to sell the currency to boost the prospects for exporters is “not a panacea” and is a risky strategy for a highly indebted nation.

English was commenting in a discussion with Labour Party finance spokesman David Cunliffe on Radio Live today. To successfully contemplate intervention required “hundreds of billions in the bank,” English said.

To contact the editor responsible for this story: Tracy Withers at twithers@bloomberg.net


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