Reserve Bank nervy about fall-out from European PIIGS

Wed, 13 Jun 2012

By Paul McBeth June 14 (BusinessDesk) - The Reserve Bank is closely monitoring developments in Europe because of the risks posed by the region’s sovereign debt crisis to economic growth in New Zealand. The "political and economic stresses in Europe" have helped erode growth in New Zealand's trading partners, which is hampering the country's growth outlook, Governor Alan Bollard said in today’s monetary policy statement. There's a "small but growing risk that conditions in the euro-area deteriorate more markedly." "The bank is monitoring euro...

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