Scoop has an Ethical Paywall
New Zealand exporters face harsh market
New Zealand exporters face harsh market
Media Release
24 January 2008
Exporters will strive to stay competitive as the official cash rate remains at 8.25 per cent, one of the world’s highest. Exporters have been taking a hit in their profit margins as the dollar continues to be strong against global currency.
“As uncertainty ripples through financial markets, a rise in interest rates would have upset the delicate balance and made it even harder for our exporters as the interest difference between the US and NZ would only send the NZ dollar higher, ” said Bob Walters, CEO of Export New Zealand.
“Taken in conjunction with higher oil prices, which affect all costs for exporters, a rise in interest rates when we’re trying to improve productivity would have only slowed down much-needed capital investment.”
ENDS
Bill Bennett: Fixed Voice Rules Head For Deregulation
UN Department of Global Communications: United Nations Proposes New Global Dashboard To Measure Progress Beyond GDP
Banking Ombudsman Scheme: Fraud Check Delays Well Worth The Inconvenience, Says Banking Ombudsman
Asia Pacific AML: NZ’s Financial Crime Gap - Beyond The 'Number 8 Wire' Mentality
Westpac New Zealand: Kiwi Households Adapting Despite Widespread Cost Pressure Concerns, Westpac Survey Shows
University of Auckland: Kids’ Screen Use Linked To Long-Term Deficits In Self-Control And Attention
