News: Lower NZ dollar would help rebalance growth-RBNZ's McDermott

LONDON, July 26 (Reuters) - Reserve Bank of New Zealand Assistant Governor John McDermott said on Wednesday that a lower currency would help rebalance economy growth.

"From a growth point of view, a lower real exchange rate would help rebalance growth towards the tradables sector, especially as not all traded industries are benefiting from the current high terms of trade," McDermott said in a speech.

The New Zealand dollar last week hit its highest level since September 2016 and is currently not far from those levels.