Earlier from Orr here:
He is still going, more:
- Global rates do matter to us, very tuned into that outlook
- Will make decision
on debt to income restrictions early next year - Seeing credit growth
slowing rapidly, our message on rates is being heeded - We are saying rates
need to be this high for some time to come, banks should listen - We are not bound by
policy meeting dates, can act on shocks if needed - scheduled Comfortable on
waiting until the February meeting right now - Domestic inflation
is causing the challenge, big part of that is dwelling costs
The next Reserve Bank of New Zealand policy meeting is on February 28, 3 months away. Orr says the Bank can act on policy outside of a scheduled meeting, if needed. That’d put the wind into the NZD sails!
This article was written by Eamonn Sheridan at www.forexlive.com. Source