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RBNZ’s Orr: New Zealand a very robust place to manage this period of higher interest rates

August 17, 2022 by admin 0 Comments

“(We are) At low end globally of inflation level, tracking in the right direction,” said Reserve Bank of New Zealand Governor Adrian Orr to New Zealand (NZ) Parliament’s Finance and Expenditure Select Committee.

Additional comments

Labor constraint key reason to “consciously” slow demand to match supply capacity.

There is and will be financial stress in many households.

At times monetary policy was overly loose.

Market reaction

NZD/USD traces RBNZ Governor’s attempt to justify the latest moves, while also matching the previous cautious remarks, as the quote drops back to 0.6275 by the press time.

This article was originally published by Fxstreet.com. Read the original article here.