RBNZ Governor Orr press conference following the policy decision:
Via Westpac:
From Orr:
- Meeting with new PM was highly constructive
- We’ve been adamant
on holding rates through next year - Projection shows
upward bias to rates but it is not a done deal - Risk to inflation is
still more to upside - We did discuss
raising rates at this meeting - Had a robust
discussion about rates - Nervous that inflation has been outside the band for so long
- concerned that longer-term inflation expectations are creeping up
Bolding is mine.
This article was written by Eamonn Sheridan at www.forexlive.com. Source