He Governor of the Reserve Bank of New Zealand (RBNZ), Adrian Orr, intervenes on Wednesday at the press conference after the monetary policy meeting. The RBNZ kept the interest rate at 5.50% for the fourth consecutive meeting in November.
Featured Statements
The meeting with the new Prime Minister was very constructive.
We have remained firm in maintaining rates until next year.
The Forecasts show an upward bias in rates, but it is not a fact.
The risk for inflation remains on the upside.
We talked about raising rates at this meeting.
We had an intense debate about rates.
We are concerned that inflation has been outside the bands for so long.
We are concerned that long-term inflation expectations are rising.
World rates are important for the US, very attentive to these prospects.
We will make a decision on debt-to-income restrictions early next year.
With credit growth slowing rapidly, our message on rates is being heard.
We are saying that rates should be so high for some time, banks should listen.
We are not bound by the dates of monetary policy meetings, we can act in the event of a crisis if necessary.
Right now we feel comfortable waiting until the February meeting.
National inflation is the cause of the challenge, and much of it is due to housing costs.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
