RBNZ Gov. Orr: Downside risks to the economy have lessened

Dhwani Mehta FXStreet

Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said he sees reduced downside risks to the economy while speaking in a Bloomberg TV interview early Friday.

Key quotes

“RBNZ sees economic conditions improving.”

“Seeing wage pressure in some sectors only.”

“Unconcerned about generalized wage pressures.”

NZD/USD reaction

Despite Orr’s upbeat take on the economy, NZD/USD is bearing the brunt of the renewed US dollar demand across the board, as the focus shifts to the Core PCE Price Index.

The kiwi is currently trading at 0.7267, down 0.30% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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