NZ Confirms Intervention
Official RBNZ statistics show that the central bank has been a net seller of New Zealand dollars over the past six months. We’ve been curious – indeed suspicious – about this for a while, especially given this unusual activity began suddenly, and soon after Governor Wheeler took office in September ¹. Wheeler broke his silence on the matter overnight. Under questioning by a parliamentary committee he said “there has been intervention” which “will become evident in the data, in our balance sheet”.
Click here to read the full report: UBS