Cast your eyes over the data here ... that jobless rate is the lowest in 14 years:
Orr is speaking at a press conference centred on the Bank's release of its Financial Stability Report earlier today.
Commenting also on the labour market data just out a few minutes ago.
(Soon to be ) RBNZ Deputy Governor Hawkesby said last month the RBNZ would be hiking rates by 25bps, not 50bps, at meetings due to heightened uncertainty. The hugely strong employment report casts doubt on this commitment.
The next Reserve Bank of New Zealand meeting is November 24, and then its a two month break until the February meeting. Surely a 50bp hike cannot be ruled out given the data today?
