RBNZ Gov. Orr says forecasts show upward bias to rates, but not a done deal

<p>RBNZ Governor Orr press conference following the policy decision:</p><ul><li><a href="https://www.forexlive.com/centralbank/rbnz-leaves-cash-rate-unchanged-at-55-as-expected-20231129/" target="_blank" data-article-link="true">RBNZ leaves cash rate unchanged at 5.5%, as expected</a></li><li><a href="https://www.forexlive.com/centralbank/rbnz-policy-meeting-nzdusd-surges-20231129/" target="_blank" data-article-link="true">RBNZ Policy Meeting: NZD/USD surges</a></li></ul><p>Via Westpac:</p><ul><li><a href="https://www.forexlive.com/centralbank/the-risk-of-an-rbnz-rate-hike-is-real-20231129/" target="_self">The risk of an RBNZ rate hike "is real"</a></li></ul><p>From Orr:</p><ul><li>
Meeting with new PM was highly constructive</li><li>We've been adamant
on holding rates through next year</li><li>Projection shows
upward bias to rates but it is not a done deal</li><li>Risk to inflation is
still more to upside</li><li>We did discuss
raising rates at this meeting</li><li>Had a robust
discussion about rates</li><li>Nervous that inflation has been outside the band for so long</li><li>concerned that longer-term inflation expectations are creeping up</li></ul><p>Bolding is mine. </p>

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