Reserve Bank of New Zealand (RBNZ) Governor Orr testified before the Finance and Expenditure Committee on Monday. Orr responded to questions on the November 2023 Financial Stability Report.

Key quotes

Inflation remains too high, that’s why we’ve kept cash rate at 5.5%.

Q3 2023 was 5.6%.

it is concerning that the population is growing so rapidly at a time when residential construction is slowing.