Podcasts Other The Mike Hosking Breakfast Adrian Orr: RBNZ Governor says there's no reason Cyclone Gabrielle should cause widespread national inflation

Adrian Orr: RBNZ Governor says there's no reason Cyclone Gabrielle should cause widespread national inflation

Published: Feb. 22, 2023, 6:56 p.m.

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Signs inflation is starting to ease, despite the impact of Cyclone Gabrielle.

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The Reserve Bank has opted to raise the Official Cash Rate by 50 basis points, to 4.75 percent, as it continues to try to stem the high inflation rate.

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Governor Adrian Orr says the cyclone may lead to some price rises in affected regions.

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But he told Mike Hosking there\'s no reason it should cause widespread national inflation.

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\\u201cAs long as they don\\u2019t feed into aggregate expectations, that everyone thinks \\u2018oh this is inflation continuing and I\\u2019d better raise ice cream prices in Invercargill because Hawke\\u2019s Bay is rebuilding\\u2019 that\\u2019s the concern we have.\\u201d

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