Free Trial

Governor Orr Reaffirms Broader View On OCR

RBNZ

RBNZ Governor Orr has stressed that the Bank's strong view is to continue to reduce stimulus given the strong position of the NZ economy re: meeting the RBNZ's mandates, albeit as he noted that some inflationary pressures are temporary.

  • Orr stated that the Bank plans to gradually lift the OCR towards the neutral level and that markets understand that the next move in the OCR is likely up, with the Bank set to stick to its usual rate review schedule (Orr underlined the idea that the Bank can afford to wait until its next meeting).
  • Orr also noted that the Bank would have likely lifted the OCR yesterday in the absence of lockdown/COVID cases.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.