Economics

Inflation Today Is Not Like the 1970s, RBNZ Governor Orr Says

Central banks can afford to wait to react to price pressures
Says it’s still a long time before RBNZ expects to raise rates

WATCH: Reserve Bank of New Zealand Governor Adrian Orr says inflation pressures “finally normalizing.”(Source: Bloomberg)

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By Kathleen Hays and Matthew Brockett

May 27, 2021 at 11:55 PM UTC

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Inflation is a very different beast today than it was in the 1970s, giving central banks the confidence to look through a short-term spike in prices, Reserve Bank of New Zealand Governor Adrian Orr said.