Adrian Orr: RBNZ Governor believes he's struck the right approach with latest unprecedented hike to interest rates
Adrian Orr believes he's struck the right approach with the latest unprecedented hike to interest rates.
The Reserve Bank Governor has lifted the Official Cash Rate by 75 basis points, to a 14 year high of 4.25 percent.
Orr is warning the country could be in recession by the middle of next year, and the OCR may have to peak at 5.5 percent to get inflation under control.
While some have accused him of overcooking things, and others will accuse him of not being aggressive enough, Orr told Mike Hosking the decision has been carefully thought out.
He says the central bank considered a 50, 75 and…
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