RBNZ’s Orr: It will be a brief recession
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Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is speaking at the November post-monetary policy meeting press conference this Wednesday, endorsing the central bank’s hawkish 75 basis points (bps) Official Cash Rate (OCR) rate hike announced earlier on.
RBNZ’s Chief Economist Paul Conway said that “inflation expectations are higher than expected.”
NZD/USD is unfazed by Orr’s comments, keeping its range at around 0.6170, adding 0.47% on the day.
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