Wavering dollar ‘hit economy’
The rise and fall of the New Zealand dollar under the Labour Government had done nothing but produce serious dislocation in the economy, and waste export opportunities, the Democratic Party leader, Mr Bruce Beetham, said yesterday. The movement showed the original 20 per cent devaluation had been double
what was necessary, Mr Beetham said. It also showed that the stability of the economy would have been much better served by a modest devaluation, and retaining flexible exchange control. “Persistence with a free and floating exchange rate will see continued repetitions of dramatic rises and falls of the New Zealand dollar,” he said.
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Press, 18 December 1985, Page 12
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106Wavering dollar ‘hit economy’ Press, 18 December 1985, Page 12
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