RBNZ 'Absolutely Resolute' in Policy Goals: Governor Orr

The transcript discusses the need for continued tightening of monetary conditions to maintain price stability and support employment. It highlights the challenges posed by high inflation, labor shortages, and global events like the Ukraine war and COVID-19. Despite these challenges, New Zealand's economy remains resilient due to robust employment and fiscal support. However, labor shortages and wage pressures persist. The committee is committed to achieving its monetary policy goals by ensuring sufficient economic restraint to bring inflation within the target range.

What was the new interest rate set by the committee?

• 2%

• 3.5%

• 2.5%

• 3%

Which global event is contributing to high commodity prices?

• Brexit

• US-China Trade War

• War in Ukraine

• COVID-19

What has been the impact of global pressures on New Zealand's domestic spending?

• Collapsed

• Increased slightly

• Remained resilient

• Decreased significantly

What is one of the main constraints on production in New Zealand?

• Poor infrastructure

• Lack of technology

• Labor shortages

• High taxes

What is the committee's target range for inflation?

• 0-1%

• 1-2%

• 1-3%

• 2-4%