Our job at the Federal Reserve is to do our utmost to produce a stable economic environment without inflation so that these trends can continue. I look forward to discussing these issues with you. 5  BIS Review 40/2000
Those inflationary pressures necessitated significant monetary restraint, as reflected in the rise in New Zealand’s short-term interest rates relative to those in our trading partners. Higher interest rates in New Zealand than elsewhere ensured plenty of demand for New Zealand dollar assets, which is another way of saying that there was upward pressure on the exchange rate.