The Reserve Bank’s Annual Report 2014-15 shows that New Zealand’s economy and financial system remain subject to major challenges in the global environment. Governor Graeme Wheeler said New Zealand’s economy has performed better than many advanced economies in recent years. However, he said that international forces remain a major influence on the economy. These include large declines in commodity prices, especially dairy and oil, low international interest rates, and record net immigration levels. New Zealand’s monetary policy framework is flexible and supporting the economy’s adjustment to these significant external forces. Mr ... (full story)
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