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Orr Says Next RBNZ Meeting ‘Live’ Even if Outbreak Persists

  • Governor Orr speaks in interview with Bloomberg Television
  • It would take a ‘significant shock’ to change rate-hike plans
The Reserve Bank of New Zealand (RBNZ) headquarters.
Photographer: Birgit Krippner/Bloomberg
Updated on

New Zealand central bank Governor Adrian Orr gave the clearest indication yet that policy makers plan to raise the official cash rate at their next meeting, even if there are still cases of Covid-19 in the community.

“Of course October is a live meeting,” Orr said in an interview Friday on Bloomberg Television. Covid cases alone would not prevent the Reserve Bank from tightening policy, he said, adding it would take “a significant shock to demand” to change that view.