'Reasonably aggressive' rate hikes to squeeze inflation, Orr says

Orr was interviewed for the IMF’s Spring Meetings by Anne-Marie Gulde-Wolf, the acting director of the IMF’s Asia and Pacific Department. (Image: screenshot)

Rebecca Howard

Tue, 19 Apr 2022

Reserve Bank of New Zealand governor Adrian Orr says the central bank won't hold back in putting the squeeze on inflation. “What are we doing? We are in a tightening phase of monetary policy,” he said in a recorded interview with the International Monetary Fund (IMF).The central bank lifted the official cash rate by 50 basis points to 1.5% last Wednesday, with data this week expected to show the annual pace of inflation accelerating past 7% in the March quarter.The Reserve Bank of NZ (RBNZ) is mandated with keeping annual i...

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