NZ Fin Min English: NZD a bit high, RBNZ intervention capabilities limited

FXStreet (Bali) - NZ Finance Minister Mr. English crossed the wires to say that the NZ dollar remains a bit high, noting that the hefty levels it trades at makes it difficult to rebalance the economy, although he outlines the exporter's resilience for success despite the strong currency.

In additional headlines, Mr. English said "RBNZ has used threat of intervention", although recognizing that "RBNZ has not got hundreds of billions to influence FX." Furthermore, Mr. English said that "complacency on debt is a risk", noting that "debt reduction takes priority over tax cuts", and that "any tax cuts would be modest", lastly adding that "new spending seeks to spread benefits of growth."