New Zealand central bank governor Adrian Orr said policymakers still need to ensure that inflation expectations are contained, suggesting they won’t be signaling a pivot to interest-rate cuts anytime soon. While all measures of price pressures have declined, headline inflation at 4.7% remains more than twice the 2% midpoint of the Reserve Bank’s 1-3% target band, Orr told the New Zealand Economics Forum at Waikato University on Friday. “We’re moving in the right direction but it’s this tail end,” he said. “We’ve got more work to do to have inflation expectations truly anchored at that 2% level. This is the part where ... (full story)