Bloomberg News

New Zealand Dollar Advances After Bollard Comments on Economy

February 17, 2012

Feb. 17 (Bloomberg) -- The New Zealand dollar advanced after Reserve Bank Governor Alan Bollard said the country’s economic performance may be understated.

The so-called kiwi climbed 0.3 percent to 83.57 U.S. cents at 12:26 p.m. in Wellington from 83.30 cents in New York yesterday.

“New Zealand is in some ways better off than is often thought,” he said in e-mailed notes for a speech to the Trans Tasman Business Circle in Auckland today. He said gross domestic product may be as much as 10 percent higher than official data relative to other nations.

To contact the reporter on this story: Mariko Ishikawa in Tokyo at mishikawa9@bloomberg.net

To contact the editor responsible for this story: Benjamin Purvis at bpurvis@bloomberg.net


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