2009 Job Summit  World Recession & How We Cope Alan Bollard, Governor Reserve Bank of New Zealand 27 February 2009
The biggest destruction of global wealth ever? $3 trillion Lost output $4 trillion Housing $30 trillion Equity Markets $2 ...
Trading partner growth slows Asian Crisis Tech Bubble Sars Financial Crisis
Trading partner growth slows Asian Crisis Tech Bubble Sars Financial Crisis
Lower growth world must adjust Consumption, currencies Reserves Savings, exports Currencies
New Zealand has strengths… <ul><li>Past strong growth, low unemployment  </li></ul><ul><li>Flexible product and labour mar...
… but we don’t escape unscathed
… but we don’t escape unscathed New Zealand
Domestic credit growth Agriculture Business Household
Intended Investment & Employment  Investment Employment
How we cope <ul><li>New Zealand has some strengths but also vulnerabilities </li></ul><ul><li>We will play our role </li><...
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The Global Recession and How we cope by RBNZ Governor Alan Bollard to the Jobs Summit Feb 17

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This is a presentation given by Reserve Bank Governor Alan Bollard to the Jobs Summit on February 17. It is titled "The Global Recession and how we cope."

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  • The Global Recession and How we cope by RBNZ Governor Alan Bollard to the Jobs Summit Feb 17

    1. 1. 2009 Job Summit World Recession & How We Cope Alan Bollard, Governor Reserve Bank of New Zealand 27 February 2009
    2. 2. The biggest destruction of global wealth ever? $3 trillion Lost output $4 trillion Housing $30 trillion Equity Markets $2 trillion Credit-related losses Value loss (est. $US)
    3. 3. Trading partner growth slows Asian Crisis Tech Bubble Sars Financial Crisis
    4. 4. Trading partner growth slows Asian Crisis Tech Bubble Sars Financial Crisis
    5. 5. Lower growth world must adjust Consumption, currencies Reserves Savings, exports Currencies
    6. 6. New Zealand has strengths… <ul><li>Past strong growth, low unemployment </li></ul><ul><li>Flexible product and labour markets </li></ul><ul><li>Floating exchange rate & hedging </li></ul><ul><li>Responsive monetary policy </li></ul><ul><li>Strong government accounts </li></ul><ul><li>Sound banking system </li></ul>
    7. 7. … but we don’t escape unscathed
    8. 8. … but we don’t escape unscathed New Zealand
    9. 9. Domestic credit growth Agriculture Business Household
    10. 10. Intended Investment & Employment Investment Employment
    11. 11. How we cope <ul><li>New Zealand has some strengths but also vulnerabilities </li></ul><ul><li>We will play our role </li></ul><ul><li>Banks must also play a key role </li></ul><ul><li>You will all be affected. We want to hear your ideas…. </li></ul>

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