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Scoop Audio: RBNZ MPS Presser 4 Dec. 08

Scoop Audio: Reserve Bank of New Zealand Monetary Policy Press Conference - Thursday, December 04, 2008

By Alastair Thompson

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Reserve Bank Governor Dr Alan Bollard at this morning's press conference (see another image below)

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  • Scoop Audio: Reserve Bank Governor Dr Alan Bollard was bullish in his assessment of the resilience of the NZ economy in the face of the ongoing global financial crisis today. Dr Bollard described his record 1.5 percent cut in the OCR as taking NZ monetary conditions into an expansionary phase. The bank is expecting zero growth for a few months, a sharp rise in unemployment and then a swift return to real economic growth of 4.5% in the 2011 year.

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Reserve Bank Governor Dr Alan Bollard at this morning's press conference


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