Ur said at a meeting
- The meeting with the new prime minister was very constructive
- We've been determined to hold interest rates for the next year
- Forecasts show upward bias for rates but not a settled deal
- Inflation risks remain uptrend
- We discussed raising interest rates at this meeting
- It was a strong discussion about prices
- Nervous that inflation has been out of range for a long time
- Investors are concerned about rising inflation expectations in the long run
- Global rates are of interest to us, and they are fully in line with those expectations.
- A decision on debt restrictions on income will be made early next year
- As credit growth slows rapidly, attention has been paid to our message on interest rates
- We're saying interest rates should be this high for some time to come, and banks should listen
- We're not obliged to date policy meetings, and we can act on trauma if needed
It is worth noting that the next RBNZ meeting will take place on February 28, 3 months later. Orr says the bank can act according to policy beyond the scope of the scheduled meeting.
