Weak retail sales shows RBNZ policy is working: Orr

RBNZ governor Adrian Orr said NZ won't go into recession. (Image: NZME)

Fri, 26 Aug 2022

The weak retail sales data released on Thursday shows monetary policy is working but Reserve Bank governor Adrian Orr doesn’t expect the economy to go into recession.“It’s a good signal that monetary policy is working, that we’re doing our job,” Orr said during the interview with Bloomberg TV at Jackson Hole, Wyoming, where central bankers from around the world are gathered.“Our current view is, no, we won’t see a technical recession” because there was a reasonable rebound in economic activity in...

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