Reserve Bank of New Zealand official, including Governor Orr and Chief Economis COnway are appearing before a parliamentary committee, parliament's Finance and Expenditure Committee.
Orr:
- Confident that inflation pressures are easing
- Economy is going through a necessary slowdown
- expects the current account deficit to narrow
Conway:
- sees a significant downturn ahead for the construction industry
- confident that current cash rate settings are restrictive
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There is more to come from RBNZ officials in the hours ahead:
