RBNZ Survey: NZ inflation expectations rise in Q4, Kiwi unmoved
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New Zealand’s (NZ) inflation expectations rise across the time curve in the fourth quarter of 2022, the latest monetary conditions survey conducted by the Reserve Bank of New Zealand (RBNZ) showed on Tuesday.
Two-year inflation expectations, seen as the time frame when RBNZ policy action will filter through to prices, came in a tad lower at 3.62% from 3.07% previous.
NZ Q4 average one-year inflation expectations jumped to 5.08% vs. 4.86% seen in the third quarter of this year.
The acceleration in NZ inflation expectations failed to move the need around the New Zealand Dollar (NZD), leaving NZD/USD almost unchanged at around 0.5935.
The rising inflation expectations data revives hopes of a hawkish RBNZ rate hike next month.
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