RBNZ Gov. Orr says forecasts show upward bias to rates, but not a done deal | Forexlive

RBNZ Governor Orr press conference following the policy decision:

Via Westpac:

From Orr:

  • Meeting with new PM was highly constructive
  • We’ve been adamant
    on holding rates through next year
  • Projection shows
    upward bias to rates but it is not a done deal
  • Risk to inflation is
    still more to upside
  • We did discuss
    raising rates at this meeting
  • Had a robust
    discussion about rates
  • Nervous that inflation has been outside the band for so long
  • concerned that longer-term inflation expectations are creeping up

Bolding is mine.

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