Reserve Bank of New Zealand - Annual Report 08/09
Overly loose monetary policy in other countries could distort New Zealand's own intentions, warned Alan Bollard, the governor of the Reserve Bank of New Zealand. In a statement accompanying the central bank's Annual Report, the governor said that New Zealand is particularly vulnerable to external pressures as it is a small, open trading economy.
Bollard highlighted the strength of the New Zealand dollar as a factor in having weakened export competitiveness. He added that the crisis had thrown
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