Very focused on restraining aggregate demand.

Need to anchor inflation expectations.

Confident households can withstand higher rates.

This is our best foot forward to restrain inflation.

Range of estimates for neutral rate is around 2% to 3%, need rates above 3%.

Least regret is too do too much too soon on rates.

Funding for lending loans has increased to NZ$10.2bn.

A recession is not in our central forecasts, but is possible.

Without doubt we believe lot more rate work ahead of us.

Our projected fall in house prices is still very mild.