I hope I have made clear today that the Reserve Bank will be working to achieve continued price stability without standing in the way of sustainable economic growth. Indeed, I think sound, flexible monetary policy contributes to the strong, balanced economic growth that, we all agree, New Zealand needs.
the IMF Fiscal Monitor on Addressing Fiscal Challenges to Reduce Economic Risks, September 2011, and E. Farhi, G. Gopinath and O. Itskhoki (2011), “Fiscal Devaluations”, NBER Working Paper No. 17662. 2  BIS central bankers’ speeches  produces substantial, beneficial effects in the long run.