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RBNZ Governor says countering inflation early will prevent need for higher rates -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A security guard is seen standing in front of the Main Entrance to the Reserve Bank of New Zealand. It’s located in central Wellington. New Zealand. This photo was taken July 3, 2017. REUTERS/David Gray

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Praveen Menon

WELLINGTON, (Reuters) – The Governor of the Reserve Bank of New Zealand (RBNZ), Adrian Orr stated on Friday that preventing inflation pressures from being addressed early will prevent any need to increase rates later.

Orr explained that he was taking his foot off the accelerator to reduce the need to use the brakes as hard in the future. Orr made this statement at the Waikato Economics Forum.

Orr stated that market prices for future central bank rates will continue to show that New Zealand expects to tighten its policy faster than other similar economies.

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