INTERVIEW-NZ out of recession by year end: PM
Published: 20 Aug 2009 20:21:45 PSTSYDNEY, Aug 21 - New Zealand will be out of recession by the end of 2009, Prime Minister John Key said on Friday.
The current central bank policy settings were right for the country, with no inflation pressures and no need to raise interest rates, Key told Reuters Television in an interview during a visit to Australia. The strength of the New Zealand dollar <NZD=>, which has gained about 32 percent in the past six months, has prompted concern from policymakers that it will derail the economic recovery.
New Zealand is in its worst recession in 30 years, with analysts expecting a return to moderate growth by the end of 2009.
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