Just imagine if we didn't have higher rates ... we would be in the 50's USD/NZD ... why would one want to invest in NZ with our present tight labour market woes , high costs bottom of the world away from the major importers of products we can farm .. guess this is why we continue to see our trade deficit widen
New Zealand has a net liability position as we have more liabilities with the rest of the world than we do assets...
NZ rockstar economy no more ..
which when you look at are young nation rich with high rainfall , minerals, renewable energy ,large economic zone ... it takes some really bonehead Govt's back to back to put our nation in its present situation ..