Inflation below 10 p.c.?
PA Auckland Inflation could be down to a single-figure annual rate by June, says the Governor of the Reserve Bank, Mr D. L. Wilks. He told the annual conference of the Associated Trustee Savings Banks in Auckland yesterday that, according to the forecasts of the Reserve Bank's economics department, the annual inflation rate would not gel below 10 per cent during 1983-84. “I hope they are proved wrong,” he said. “It is going
to be touch and go. “The psychological impact on inflationary expectations could be very strong if we can break the 10 per cent barrier for the first time since 1974. “The task ahead of all of us is to make sure we do break that double-digit barrier and keep below it.” . Mr Wilks recalled that the consumers price index increased at the lowest quarterly rate since March, 1979, during the December quarter, when it rose 2.7 per cent.
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Press, 19 February 1983, Page 6
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155Inflation below 10 p.c.? Press, 19 February 1983, Page 6
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