NZ's Brash wary of deflation

Speaking at a roadshow aimed at small businesses today the Governor of the Reserve Bank of New Zealand, Donald Brash stressed that deflation was just as much a concern as inflation with regard to defining price stability.

Dr. Brash said "It's been said that any fool can keep inflation down, and that's true, but our task is much more demanding than that". Brand was explicit about the bank's inflation target being lower bounded: "Inflation going below zero would be just as much a breach of the