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RBNZ |
Written by Reserve Bank of New Zealand |
Jun 04 08 21:06 GMT |
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Reserve Bank Governor Alan Bollard said: "The global economy is currently experiencing significant increases in oil and food prices. These price increases are occurring at the same time as activity is weakening in many economies in response to the global credit crisis and slowing housing markets. In New Zealand, this confluence of factors is producing a challenging environment of weak activity and high inflation. |
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RBNZ |
Written by Reserve Bank of New Zealand |
Apr 23 08 21:03 GMT |
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Reserve Bank Governor Alan Bollard said: “Economic activity has weakened more markedly than expected in the Bank's March Monetary Policy Statement. There have been sharp falls in consumer and business sentiment, exacerbated by tighter credit conditions, a further decline in the housing market and weaker prospects for world growth. Financial market turbulence around the world continues to add to an uncertain economic environment. Further, the very dry summer is also weakening short-term growth prospects. |
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RBNZ |
Written by Reserve Bank of New Zealand |
Mar 05 08 20:07 GMT |
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Reserve Bank Governor Alan Bollard said: “The outlook for economic activity has deteriorated somewhat since we reviewed the OCR in January. The main reasons are weaker prospects for world growth, tighter credit conditions, a sharper-than-expected slowing in the housing market, and recent dry weather conditions. On balance, we now expect GDP growth of around 2 percent over the next three years. |
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RBNZ |
Written by Reserve Bank of New Zealand |
Jan 25 08 16:43 GMT |
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All economies face 'shocks' unexpected events provoking some sort of response. Shocks affect households and firms at the micro level, and the path of economic growth and inflation at the macro level. For a small and open economy like New Zealand, many of the shocks shaping economic activity have an international dimension, and this turbulence is part and parcel of the economic landscape. New Zealand's economic institutions and policymaking frameworks recognise this volatility, and over time, they have responded in a manner which has improved the overall resilience of the New Zealand economy to most shocks. Indeed, the last ten years has been a period of relatively stable inflation outcomes both in New Zealand and globally, due in no small manner to the efforts of monetary policy in pursuing the mandate of price stability. |
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RBNZ |
Written by Reserve Bank of New Zealand |
Jan 23 08 21:29 GMT |
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The Official Cash Rate (OCR) will remain unchanged at 8.25 percent. Reserve Bank Governor Alan Bollard said: “The outlook for the New Zealand economy remains broadly consistent with the view outlined in the December Monetary Policy Statement. While the housing market continues to cool, the labour market remains tight, domestic income growth is still strong, especially from dairy, and core inflationary pressures persist. |
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RBNZ |
Written by Reserve Bank of New Zealand |
Dec 06 07 10:23 GMT |
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The Official Cash Rate (OCR) will remain unchanged at 8.25 percent. Reserve Bank Governor Alan Bollard said: “Economic activity has occurred largely as outlined in the September Monetary Policy Statement. Capacity pressures – particularly in the labour market – remain significant, while the housing market has clearly slowed. A substantial income boost is still expected to occur through 2008, as recent dairy price gains reach farmers. |
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