Orr speaking following the monetary policy announcement earlier:

RBNZ keeps rates unchanged at 1.75%

  • Not taking a rate cut off the table
  • Says he is data dependent
  • says the challenge is to lift inflationary pressure further
  • Welcomes the declining unemployment rate
  • firms focused on capacity pressures in labour market
  • RBNZ is comfortable seeing capacity pressures rise

More:

  • Would consider a rate cut if GDP fell short of projections

This is Orr's post-decision news conference