RBNZGov Orr says cyclone-related inflationary pressure may require higher rates for longer

Reserve Bank of New Zealand Governor Orr speaking in an interview

• cyclone-related inflationary pressure may require higher rates for longer
• there would need to be a large inflationary shock to return to 75bp rate hikes
• there are early signs of price pressures beginning to ease in the global economy
• the RBNZ is optimistic about a return to steady, low inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term
• the RBNZ has been aggressive in its tightening

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Earlier:

• RBNZ Orr: There are some early signs that inflation is abating

After yesterday's cash rate hike:

• RBNZ rate hike news conference, says still forecasting a recession 9 to 12 months period
• NZD/USD higher after the hawkish Reserve Bank of New Zealand decision
• RBNZ hikes cash rate by 50bp, as widely expected