RBNZ Monetary Policy Statement, March 2005

- Central Banking staff
- 10 Mar 2005

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The Reserve Bank of New Zealand increased interest rates by 25 basis points to 6.75 per cent on Thursday 10 March. Speaking at the release of the March 2005 Monetary Policy Statement, RBNZ Governor Alan Bollard said with the economy remaining very strong and resources becoming increasingly stretched, further tightening of policy is now necessary.

"The momentum in today's economy is underlined by the continuing vigorous employment growth through December and by ongoing high levels of business and

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