WELLINGTON, Dec 10 (Reuters) - A start to interest rate rises will depend on the New Zealand economy continuing to recover, the Reserve Bank of New Zealand Governor Alan Bollard said on Thursday. Earlier the central bank had held its cash rate at a record low 2.5 percent but said it could start removing stimulus from the middle of 2010. See
'We are saying if the economy continues to recover conditions might support,' Bollard told CNBC. 'The picture we have would be of sustained growth and also fiscal support starting to come off,' Bollard said.
Bollard also said the strength of the New Zealand dollar has hindered an export-led recovery.
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wellington.newsroom@reuters.com)) Keywords: NEWZEALAND ECONOMY/BOLLARD (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'We are saying if the economy continues to recover conditions might support,' Bollard told CNBC. 'The picture we have would be of sustained growth and also fiscal support starting to come off,' Bollard said.
Bollard also said the strength of the New Zealand dollar has hindered an export-led recovery.
((Wellington newsroom tel 64 4471 4234, fax +64 4 4736 212,
wellington.newsroom@reuters.com)) Keywords: NEWZEALAND ECONOMY/BOLLARD (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.