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
Reserve Bank of New Zealand Governor Orr