- Analytics
- News and Tools
- Market News
- RBNZ’s Orr: Confident that inflation pressures are coming out
RBNZ’s Orr: Confident that inflation pressures are coming out
After defending the Reserve Bank of New Zealand’s (RBNZ) status quo the previous day, Governor Adrian Orr tried again to justify the central bank’s inaction by suggesting the easy inflation pressured of late. On the same line was RBNZ Chief Economist Paul Conway.
While speaking in front of the government committee, RBNZ’s Orr said that the drivers for inflation have been changing through time but they have all been biased to higher than otherwise inflation.
The policymaker, however, conveyed easing inflation pressured regardless of the next shock.
Elsewhere, Chief Economist Paul Conway said net migration, currently at record levels, had not been as inflationary as it had been previously.
RBNZ’s Conway also defended the central bank’s inaction by stating that the revision of the neutral rate to 2.0%–2.25% range is as restrictive as needed.
“Some industries were being worse hit by monetary policy and global factors, including construction, commercial property and agriculture,” added RBNZ’s Convay.
Also read: NZD/USD retreats from daily highs ahead of FOMC minutes
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
