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
• the RBNZ has been aggressive in its tightening

-

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