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Reserve Bank watching for Europe's impact

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Reserve Bank watching for Europe's impact

By: Newstalk ZB staff | Business News | Wednesday May 9 2012 13:49

 

The Reserve Bank is watching with interest what impact, if any, the election of a Socialist French President and an inconclusive election in debt-ridden Greece will have on New Zealand.

The Bank has released its Financial Stability Report which shows banks in this country at generally in good shape.

But Bank Governor Allan Bollard says there's considerable international volatility with high debt funding and the fallout from the elections is being monitored.

"What we're more concerned about is could it lead to any freezing up of bank funding markets in Europe and we have to recognise there could be periods of fragility like that."

Photo: stock.xchng

 

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