RBNZ's Orr: There are capacity pressures everywhere in the country
Comments from the RBNZ leader
The RBNZ hiked rates by 25 basis points today. There was some talk of a 50 bps hike and the kiwi initially dipped and remains the weakest G10 currency.
The statement said immediate relative price shocks risk generating more generalised price rises.
- Economy is running above its potential, rate hikes will slow the desire to buy houses