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.

How has global consumer price inflation been affected by recent events?

What impact have labor shortages had on production in New Zealand?

In what ways are spending and investment trends affecting New Zealand's economy?

What are the reasons for the committee's decision to tighten monetary conditions?

What is the target range for inflation that the committee aims to achieve?