NZ's Brash - Encouraging signs from US

NEW ZEALAND - Reserve Bank of New Zealand Governor Donald Brash said Friday that there are "encouraging" signs of improvement from the U.S. but Japan remains the biggest risk to the local economy.

Brash was responding to questions after delivering a speech to the Canterbury Employers Chamber of Commerce in Christchurch.

"Australia is not doing too badly. The U.S. is showing encouraging signs of improvement, but Japan is unclear. It has very large non performing loans in the banking system," he