RBNZ’s Orr: Projection shows upward bias to rates but it is not a done deal

Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is addressing the post-monetary policy meeting press conference on Wednesday. The RBNZ held the interest rate steady at 5.50% for the fifth meeting in a row in November.

Key quotes

Meeting with new PM was highly constructive.

We've been adament on holding rates through next year.

Projection shows upward bias to rates but it is not a done deal.

Risk to inflation is still more to upside.