24 January 2006
Dizzy Dollar Heights Bad News For Farmers
New Zealand First is pleased that the Government is trying to alleviate the pressures that the high dollar is placing on
our export sector, and commends moves by the Reserve Bank Governor to improve monetary conditions.
“Some criticism has been levelled at the Reserve Bank governor and other officials for their attempts at dampening the
appeal of investing in New Zealand Government bonds, particularly to Japanese investors,” said Primary Production
spokesperson Doug Woolerton.
“The efficacy of this move remains to be seen, but at least there is a recognition that our exporters are suffering, and
that action needs to be taken.
“It’s easy to sit back and criticise, but in a country dependent on manufacturing and primary production, actions speak
louder than words. The more we can do to talk down or otherwise achieve a lower exchange rate, the better.
“The dollar has to come down, and it eventually will, but in the meantime any attempts to hasten its fall should be
commended, not ridiculed from the blue corner,” said Mr Woolerton.
ENDS