RBNZ Governor Orr's press conference following the Bank's policy statement earlier.
- rise in OCR track is not forward guidance, not a strong signal out the Bank's next move
- wary about too much on rates
- is encouraged to see inflation fall
- inflation is still too high
- the risk in the next few months is that activity could be stronger than expected
- ready to work through noisy data in the near term
- there was not much talk of a rate cut, it was easy to reach consensus on the on hold decision
- we are very comfortable with where the cash rate is
- still on a path to a soft landing
