RBNZ's Bollard on the New Zealand economy

In the speech 'Imbalances in the New Zealand economy' given on 14 October Alan Bollard of the RBNZ said very strong household spending was a common factor in the widening current account deficit and the inflationary pressures facing the New Zealand economy.

Dr Bollard said the Bank's task of maintaining inflation within the 1 to 3 per cent target band on average over the medium term was particularly challenging because of household spending, oil price rises, and the prospect of a more

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