1  A relatively accessible example of the Bank’s research on the exchange rate was a conference we held (jointly with Treasury) earlier in the year. Copies of all the papers from this conference are available at http://www.rbnz.govt.nz/research_and_publications/seminars_and_workshops/Mar2013/programme.html.
Against the backdrop of the continued favorable employment and income situation, the growth momentum seems to be solid. The Federal Reserve’s tightening coming into sight also suggests improvement of the U.S. economy. The European economy saw continued growth of nine consecutive quarters and has continued to recover moderately.