RBNZ Monetary Policy Statement, September 2005

The Reserve Bank of New Zealand published its September 2005 Monetary Policy Statement on 15 September. RBNZ Governor Alan Bollard said since the June Statement, economic indicators have broadly confirmed the slowdown in activity that commenced in the second half of 2004.

The slowdown has been concentrated in sectors such as manufacturing and tourism that have been exposed to the high exchange rate. The non-traded sectors of the economy on the other hand, such as household and business services

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