RBNZ’s Bollard: external shocks and internal rebalancing will prolong recovery
Alan Bollard, the governor of the Reserve Bank of New Zealand, said last Friday that the external shocks and internal rebalancing processes that Western economies are undergoing may prolong their recovery.
Speaking in Auckland, Bollard said: "We are seeing an external aftershock playing out across the globe right at the moment with big movements in exchange rates to cross-rate extremes not seen for decades."
Bollard said the need to rebalance externally was driven by the record build up of
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