Reserve Bank governor Adrian Orr fronts MPs on interest rates, GDP, migration and housing

Adrian Orr expects interest rates to stay where they are for now. (Image: Mark Mitchell)

Wed, 20 Dec 2023

Reserve Bank of New Zealand governor Adrian Orr says migration has eased the labour shortage but it’s still not clear why the country’s economy performed so poorly recently. Orr appeared before the Finance and Expenditure select committee at a time of ongoing concerns over inflation and interest rates. He said inflation was undoubtedly the “number one evil” for everybody in the economy. Orr referred to last week’s disappointing GDP results showing the economy shrank 0.3% in the September quarte...

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