RBNZ Gov. Orr says sees below-par growth but not forecasting a recession

Earlier from the Reserve Bank of New Zealand: * RBNZ hikes its cash rate by 50bp as expected * New Zealand dollar gaining after the RBNZ raises its projections for the cash rate ahead - Orr: * in a strong position to get on top of inflation * household balance sheets are still healthy * some heat will come out of the labour market as demand slows * slower consumer spending leading to slower growth * did not consider a 75bp rate hike today * the moves by 50bp have been orderly, sufficient - This article was written by Eamonn Sheridan at www.forexlive.com.
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