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RBNZ Governor Orr says the Bank is determined to contain inflation

Reserve Bank of New Zealand Governor Orr press conference, live link is from here:

RBNZ press conference with Governor Orr at 03:00 GMT – live link

  • Orr reaffirms its Bank’s determination to control inflation
  • says biggest impediment to production is labor shortage
  • The Bank focuses particularly on the control of aggregate demand
  • inflation expectations must be anchored
  • confident households can afford higher rates
  • loan funding increased to NZ$10.2 billion

Orr says the neutral rate is between 2 and 3%

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