Your browser is not supported

Our website does not support the browser you are using. For a better browsing experience update to a compatible browser like the latest browsers from Chrome, Firefox and Safari.

The exchange rate and monetary policy

Dr Don Brash

In this speech, delivered to the Auckland Manufacturers' Association on 30 November, Dr Brash addresses current issues relating to the role of monetary policy and the exchange rate. Dr. Brash focuses on the real exchange rate - that is, competitiveness - and concludes that this is influenced largely by decisions made by producers. In particular, competitiveness will be affected by decisions affecting productivity and wage settlements vis-a-vis international competitors.