RBNZ Monetary Policy Statement, June 2005

The Reserve Bank of New Zealand published its June 2005 Monetary Policy Statement on 9 June. RBNZ Governor Alan Bollard said the current review confirms what we said in the March Statement and again at the April OCR review.

"Activity remains strong across many parts of the economy and inflation pressures remain persistent. Several years of strong growth have led to productive resources becoming stretched, with capacity utilisation and measures of labour shortages remaining at or near record

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