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Central Banks

RBNZ’s Orr Signals Aggressive Tightening Cycle Nearing End

  • New Zealand central bank chief sees couple more rate increases
  • Orr says slower consumption suggests rate hikes having impact
Bloomberg business news
WATCH: Reserve Bank of New Zealand Governor Adrian Orr discusses the bank’s monetary policy, the economy and his outlook for inflation. Source: Bloomberg
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New Zealand may be nearing the end of its aggressive tightening cycle with Reserve Bank Governor Adrian Orr pointing to emerging signs that consumption is beginning to cool. 

“We know we have to slow the economy,” Orr told Bloomberg Television in an interview from Jackson Hole where he’s attending an annual central bankers meeting. “We knew we had to be 3% plus to begin that slowing journey and now we’re in a much more comfortable position.”