The Governor of the Reserve Bank of New Zealand (RBNZ), Adrian Orrmade his comments at the press conference following the February monetary policy decision, noting the following.
Future rate hikes of 50 basis points cannot be ruled outrates need to increase significantly.
We’ll take our time Step by Step.
Capacity pressures on the economy are still tightening.
The projected drop in house prices is small relative to past increases.
The amount of hardening through bond sales is very small, it’s all about the OCR.
On the other hand, the chief economist of the central bank, Yuong Hahas said that they are “seeing signs that house prices are declining, returning to more sustainable levels“.
Source: Fx Street

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