The Reserve Bank of New Zealand (RBNZ) Governor Graeme Wheeler reiterated on late Tuesday that the New Zealand dollar is still "unjustified and unsustainable" despite the recent depreciation. He added that the central bank would like to see further depreciation of the New Zealand dollar.
Earlier on Tuesday, the RBNZ released its Financial Stability Report. The central bank removed unexpectedly the word "unjustified" from its report. Wheeler declined to comment why the word "unjustified" had been removed.