RBNZ’s Orr: Inflation is still too high but is falling
Source Fxstreet
The Reserve Bank of New Zealand (RBNZ) Governor Orr said on Friday that inflation in New Zealand is still too high, but is falling. Orr further stated that the central bank expects to begin normalizing policy in 2025.
Key quotes
“The economy is evolving as anticipated.”
“Inflation expectations have fallen.”
“Inflation is still too high but is falling.”
“Monetary policy needs to stay restrictive for some time.”
“Expects to begin normalizing policy in 2025.”
“Expect economic growth to begin picking up in 2024.”
Market reaction
The NZD/USD pair is trading lower by 0.03% on the day to trade at 0.6086, as of writing.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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AUD/USD holds ground near 0.6700 due to cautious RBA toneAUD/USD moves little after two days of gains, hovering around 0.6700 during the Asian hours on Friday. The pair steadies as the Australian Dollar (AUD) receives support amid cautious sentiment surrounding the Reserve Bank of Australia’s (RBA) policy outlook.
AUD/USD moves little after two days of gains, hovering around 0.6700 during the Asian hours on Friday. The pair steadies as the Australian Dollar (AUD) receives support amid cautious sentiment surrounding the Reserve Bank of Australia’s (RBA) policy outlook.
