Economics
English Says N.Z. Powerless to Curb Kiwi’s Bond-Fueled Gain
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New Zealand Finance Minister Bill English said the nation’s growth outlook is attracting foreign bond investors, helping propel the year’s strongest-performing Group of 10 currency and leaving the government powerless to steer it to lower levels.
“Other people seem to see our prospects as reasonable and therefore they’re buying the currency,” English said in an interview yesterday in Wellington. New Zealand’s dollar has gained 7.7 percent against the U.S. currency this year.