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