Governor Orr speaking at the Reserve Bank of New Zealand Monetary Policy Statement media conference.
He is sounding a little less hawkish than the Statement.
Q&A:
- will take time for domestic inflation to decline
- economy has lower potential growth rate, unsure if that is temporary
- have limited upside room for inflation surprises
- pleased that inflation expectations are falling, need to fall further
- OCR track is a central projections, not an absolute predicition
NZD/USD has dribbled lower during the press conference. Orr not nearly as hawkish as the Statement was read earlier.
