RBNZ Governor Orr says he is confident that inflation pressure is lessening

<p>Reserve Bank of New Zealand official, including Governor Orr and Chief Economis COnway are appearing before a parliamentary committee, parliament's Finance and Expenditure Committee.</p><p>Orr:</p><ul><li>Confident that inflation pressures are easing</li><li>Economy is going through a necessary slowdown</li><li>expects the current account deficit to narrow</li></ul><p>Conway:</p><ul><li>sees a significant downturn ahead for the construction industry</li><li>confident that current cash rate settings are restrictive</li></ul><p>—</p><p>There is more to come from RBNZ officials in the hours ahead:</p>

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