Reserve Bank of New Zealand Orr:
- confident inflation back in its target band
- can commence re-normalising rates
- we considered a range of moves and consensus was for 25bps
- projections are NZ is headed towards a period of low and stable inflation
- broad range of indicators are consistently soft
- Reasonable first step for monetary easing, in strong position to move calmly
- Remarkably pleased with how economy has panned out with our forecasts
- High frequency data show economy weakening
- Its a good news story of pricing intentions changing
- Still have restrictive financial conditions
Earlier, read from the bottom up for the chronology:
