Video: Allan Bollard tells us just how big the challenge is

Reserve Bank of New Zealand Governor Alan Bollard has told the Jobs Summit in Auckland that the Reserve Bank would continue to run a 'stimulatory' monetary policy to help the economy cope with the worst global recession since the 1930s and the biggest distruction of wealth in history. "The RBNZ for its part will ensure that monetary policy is appropriately stimulatory, that there is appropriate domestic liquidity available to banks, that we remain ready further to changing financial circumstances and that our actions are co-ordinated with other government moves to promote stability for New Zealand," Bollard said.