WELLINGTON, New Zealand--Reserve Bank of New Zealand Gov. Adrian Orr said the central bank will continue to increase its cash rate, eventually raising it above the level considered neutral for the economy.
The comments by Mr. Orr at the New Zealand parliament's annual review of the central bank reiterate RBNZ's statements in November, when it raised the cash rate for the second time in two months.
"It is our expectation that the OCR (Official Cash Rate) would eventually need to be raised above its neutral rate, conditional on the economy evolving as expected," Mr. Orr said.
Write to Stephen Wright at stephen.wright@wsj.com
(END) Dow Jones Newswires
12-14-21 1446ET
