RBNZ Monetary Policy Statement, December 2004

Speaking at the release of the Reserve Bank of New Zealand's December 2004 Monetary Policy Statement on Thursday 9 December, RBNZ Governor Alan Bollard said "As indicated in our October Review, we continue to expect that the current policy position will achieve inflation between 1 and 3 per cent on average over the medium term."

"Since the last review, overall economic indicators have continued to surprise on the upside. As a result, we have revised upwards our GDP estimates for the second half

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