RBNZ’s Orr: Rise in OCR track is not forward guidance

After maintaining the interest rate at 5.50%, Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is speaking at the post-policy meeting press conference this Wednesday.

Key quotes

Rise in OCR track is not forward guidance.

Not a strong signal about our next move.

Wary about doing too much on rates.

Risks in next few months are activity could be stronger than projected.

Ready to work through data noise in near term.