RBNZ Survey: NZ inflation expectations drop further to 2.50% in Q1 2024
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New Zealand’s (NZ) inflation expectations extended their decline on a 12-month and a two-year time frame for the first quarter of 2024, the Reserve Bank of New Zealand’s (RBNZ) latest monetary conditions survey showed on Tuesday.
Two-year inflation expectations, seen as the time frame when RBNZ policy action will filter through to prices, eased slightly from 2.76% seen in Q4 2023 to 2.50% in Q1 of this year.
NZ average one-year inflation expectations dropped to 3.22% in the quarter to March vs. 3.60% seen in the final quarter of 2023.
The New Zealand Dollar (NZD) came under renewed selling pressure, in the face of falling inflation expectations. At the press time, NZD/USD is losing 0.42% on the day to test the 0.6100 barrier.
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