WELLINGTON, Feb 24 (Reuters) - The Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said on Thursday that more monetary policy tightening will be needed to counter rising inflation, and said rates will be north of neutral rates of about 2% in a year.
RBNZ's rate hike on Wednesday was hawkish, and signals more hikes, Governor Orr told a parliamentary committee.
"The markets are saying the reserve bank is incredibly worried about inflation and are signalling higher interest rates...that is correct," he told a parliamentary committee.
"We have got a very clear path of interest rate rises outlined ahead of us," he added.
He also said the current level of inflation was undoubtedly too high. (([email protected]; +6448028163; Reuters Messaging: [email protected]; Twitter: https://twitter.com/Journopraveen))
