New Zealand’s Recovery Is Slower And More Vulnerable: RBNZ Governor

(RTTNews) - Thursday, Reserve Bank of New Zealand Governor Alan Bollard said both New Zealand and Australia survived the crisis well due to a mix of strong institutions and stimulative policies. But New Zealand’s economic recovery is slower and more vulnerable. And “a difference financial markets do not appear to appreciate,” said Bollard.

“This is particularly evident in the relatively stable cross-rate on foreign exchange markets. If financial markets can’t see the differences, they will eventually lose money, and it will hurt the New Zealand economy,” he said in Auckland. “Financial markets treat us like Australia, but actually we are quite different.”

According to Bollard, New Zealand can improve its prospects by taking advantage of Australia’s future growth potential. “Australia is a lucky country, but we could be a lucky neighbor.”

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