The RBNZ Governor spoke to the Peterson Institute in the United States today.
GDP growth was above some forecasts; the RBNZ expects a slowdown next year and a shallow recession.
Adrian Orr said staff turnover of almost 22% was higher than he wanted, but he was realistic about why that was the case.
Consumers appear to be listening to central bank governor Adrian Orr’s advice to spend sensibly.
Governor Lowe said repeated hikes to the cash rate target were essential to ensure the current high rate of inflation was temporary.
Primary sector export revenue was up 11% in the year to end of June and is expected to go up another 4% this year.
Public consultation open on potential changes to the remit for the body which sets out the guidelines for maintaining price stability.
OCR expected to peak at 5% as lagged effect of interest rate increases is felt by households as they switch to higher fixed mortgage rates.
Jumbo hike of 75bp will not be the last from RBNZ, with new OCR 5.5% peak expected.
RBNZ continues to tighten at pace and expects a recession later next year.