ICYMI - The RBNZ so far today:
- NZD - RBNZ hikes cash rate by 25bps as expected
- NZD marked higher on the RBNZ policy decision and statement
- NZD higher on the Reserve Bank of New Zealand's two notable hawkish surprises
Orr:
- capacity pressures in the economy are tightening still
- inflation expectations for 5 to 10 years are anchored but have risen recently
- cannot rule out 50bp rate hikes in the future, rates do need to rise signficantly
