New Zealand central bank governor Adrian Orr, who unexpectedly switched to an easing bias last month, said it’s not yet clear whether an interest-rate cut is warranted in May. “It is a really mixed picture, it’s just hard,” Orr said in an interview with Bloomberg on Thursday in Wellington. Referring to speculation that the bank could act as soon as May, Orr said: “I don’t know yet,” adding that the bank will continue to evaluate incoming data. Orr last month said the next move in rates was more likely to be down, prompting investors to quickly price in a cut by August. They see a 30 percent chance of a move at the ... (full story)