25 Nov 2021

Adrian Orr signals more interest rate rises

From Morning Report, 7:48 am on 25 November 2021

The Reserve Bank has signalled there are plenty more interest rate rises to come before it thinks inflation will be under control.

The central bank yesterday raised the official cash rate by a quarter of a percent to 0.75 percent, and signalled a series of increases over the next two years to reach between 2.5 and 3 percent.

It's also forecasting consumer inflation to head towards 6 percent early next year.

Business editor Gyles Beckford asked Governor Adrian Orr if inflation is getting out of control.