Reserve Bank of New Zealand Governor Orr news conference, live link is from here:
RBNZ Press Conference with Governor Orr coming up at 0300 GMT - live link
- Orr restates his Bank's determination to control inflation
- says the biggest obstacle to production are labour shortages
- Bank is especially focused on controlling aggregate demand
- inflation expectations need to be anchored
- confident households can withstand higher rates
- funding for lending loans has increased to NZ$10.2bn
Orr says neutral rate is in the 2 to 3% range
- the least regret is doing too much too fast on rates
- economy can handle a rate hike
