Quote of the day:
. . . Right now our dollar is a balloon and drought declarations ought to be the sharp pin. Given the droughts of 2007-9 cost New Zealand $2.8 billion and were tipping points for the last recession, investors buying the Kiwi ignore reality at their peril. Bruce Wills, Federated Farmers president.
He was writing on the impact of the drought which ANZ puts it at $1 billion and counting.
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