The crisis and monetary policy: what we learned and where we are going

Treasury has released a background paper on an address by Dr Alan Bollard to the Canterbury Employers' Chamber of Commerce on 29 January 2010.

The address includes a discussion on how the inflation targeting framework has performed and on other factors that the Reserve Bank Governor considers relevant to obtaining balanced growth or macroeconomic stability.

In his concluding remarks Dr Bollard says: "We need to be realistic. The world is not ours to influence, and it is unlikely to offer us perfect conditions. But in New Zealand, we will be seeking less distortion from future tax policy, and an increased macro-orientation of prudential policy."

Click here to read the full speech.

Enquiries and information

For more information on any of the cases, articles and features in Financial Services Quarterly, please email Rachel Gowing or call on 64 9 916 8825.