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English Says Kiwi in Mid-to-High 70s Sustainable for New Zealand
New Zealand Finance Minister Bill English said a U.S.-kiwi exchange rate in the "mid-to-high 70s" is sustainable for the economy as he seeks steady growth and moderate business cycles.
"We have that opportunity ahead of us over the next three or four years of 3 percent growth," English said in an interview with Bloomberg TV from the Group of 20 summit in Brisbane yesterday.
Ruble Less Respected Than Rand as Volatility Hits Record
Russia's ruble is the most volatile relative to other currencies in at least nine years, hurting the country's already battered economy as the unprecedented price swings drive investors away.
One-month implied volatility on the ruble, which reflects traders' expectations for future swings in the exchange rate, reached 33 percent on Nov. 10, almost double that of Brazil's real, the second-most volatile among 41 major currencies tracked by Bloomberg.
Oil price drop could have perverse braking effect on economy
A falling oil price could hamper rather than aid economic recovery as lower export revenues for energy producers will mean fewer petrodollars propping up markets and keeping a lid on the cost of capital.
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