Reserve Bank of New Zealand Governor Orr is speaking in front of a committee of the New Zealand parliament (live feed if you are interested).
He is addressing the most recent monetary policy statement from the RBNZ, released yesterday. ICYMI, link to the decision and statement etc are here:
- monetary policy must act as a restraint at present
- government spending is adding to aggregate demand, adding to inflation pressure in the short-term
- the NZ economy is resilient in the face of inflation