RBNZ’s Orr: Needs to continue to move on policy, cannot wait for uncertainty to lift – Bloomberg

“I would expect to see New Zealand dollar (NZ$) to appreciate a bit on tightening,” said Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr in the latest Bloomberg TV interview.

Additional comments via Bloomberg

Inflation pressures rising, at maximum employment.

Would expect to see NZ$ to appreciate a bit on tightening.

More NZ$ does the work on tightening, less policy has to do.

Lot of work to do to get back to neutral rate of 2%.

Market implications

NZD/USD fails to recover from the yearly low despite the hawkish comments from RBNZ Governor. That said, the kiwi pair remains pressured towards the yearly low surrounding 0.6800 while declining to 0.6828 at the latest.

Read: NZD/USD: Vulnerable to refresh multi-month low towards 0.6800 on sour sentiment