RBNZ Governor Orr says the higher OCR track is not forward guidance

<p>RBNZ Governor Orr's press conference following the Bank's policy statement earlier. </p><ul><li>rise in OCR track is not forward guidance, not a strong signal out the Bank's next move</li><li>wary about too much on rates</li><li>is encouraged to see inflation fall</li><li>inflation is still too high</li><li>the risk in the next few months is that activity could be stronger than expected</li><li>ready to work through noisy data in the near term</li><li>there was not much talk of a rate cut, it was easy to reach consensus on the on hold decision </li><li>we are very comfortable with where the cash rate is</li><li>still on a path to a soft landing</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.