RBNZ Governor Adrian Orr told a parliamentary committee that the central bank has “laser-like focus” on bringing inflation down to target. Yet, he admitted that, “the (inflationary) shocks still arriving through the global economy are significant and this is where people need to think about their own ability to weather an enormous amount of unanticipated activities.”
“Meanwhile around our confidence of having inflation under control – that is very high, because we control the end outcome through the interest rate environment. So, that’s a guessing game. That’s about the things we will have to do to achieve low and stable inflation, subject to the continuing buffering of shocks left right and centre. Resilience and humility,” he added.
