Governor of the Reserve Bank of New Zealand Adrian Orr appeared before the New Zealand parliament, in front of the
parliament’s Finance and Expenditure select committee on Thursday morning (05 May 2022).
Despite being well ahead of many other central banks in rasing rates Orr was asked if the Bank was slow to respond to inflation risks.
- Said the RBNZ was “courageous” to start tightening monetary policy before many of its peers
Also:
- Being too out of step with others in terms of monetary policy has risks.
- It's business as usual on monetary policy.
- We don't see stagflation as a core risk.
- We'll be taking heat out of economy by raising the OCR.
NZD/USD jumped on the FOMC and Powell's presser and not done a real lot since:
