NZ's Bollard tells business to pitch in

Alan Bollard, the governor of the Reserve Bank of New Zealand, on Wednesday urged businesses to cut prices so that the central bank can keep rates low.

"We need to see inflationary pressures reducing significantly across the board if we are to keep on easing monetary policy and help the New Zealand economy to recover," Bollard said. "That depends on all sectors of the economy responding to reduced demand and not adding inflationary pressures to the system."

The Reserve Bank made its largest

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