RBNZ's Bollard talks at MPS press conference about the rates outlook, house prices, mortgage rates and Christmas

Here is the full press conference at the Reserve Bank in Wellington on December 10, 2009 following the release of the RBNZ's December quarter Monetary Policy Statement. The Reserve Bank left the Official Cash Rate at 2.5%, but indicated that it may be prepared to increase the rate around the middle of 2010, as opposed to the second half of 2010. Governor Bollard talked at length about the rates and inflation outlooks, house prices, mortgage rates and his wishes for a merry Christmas. In particular at the end, he thanked journalists for being responsible.