Reported 5 months ago
New Zealand central bank Governor Adrian Orr stated that the Reserve Bank of New Zealand (RBNZ) would only consider hiking interest rates further if necessary to control inflation expectations. Orr emphasized that another rate hike would be significant only if inflation expectations were escalating due to actual inflation persistence, and the RBNZ aims to bring inflation down to the 1-3% target band. The RBNZ recently held its benchmark rate at 5.5% but hinted at a potential future hike, with Orr expressing confidence in managing inflation without causing a surge in expectations.
Source: YAHOO