NZ Inflation Expectations Softer in Q3, Kiwi off Highs, According to RBNZ Survey

The third quarter of 2022 will see an easing in New Zealand's (NZ) inflation expectations throughout the time curve, according to the Reserve Bank of New Zealand's (RBNZ) most recent monetary conditions survey released on Monday.

August 08, 2022 - 01:08 PM 472 views

NZ Inflation Expectations Softer in Q3, Kiwi off Highs, According to RBNZ Survey

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© NZ Inflation Expectations Softer in Q3, Kiwi off Highs, According to RBNZ Survey

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The third quarter of 2022 will see an easing in New Zealand's (NZ) inflation expectations throughout the time curve, according to the Reserve Bank of New Zealand's (RBNZ) most recent monetary conditions survey released on Monday.

Two-year inflation forecasts decreased slightly from the previous reading of 3.29 percent to 3.07 percent, which is thought to be the time period during which RBNZ policy actions will affect prices.

Average one-year inflation forecasts in New Zealand decreased slightly in the third quarter, from 4.88 percent to 4.86 percent.

Kiwi Ignores Inflation Statistics

The kiwi's wings were cut by the weakening of NZ inflation expectations as NZD/USD fell from daily highs of 0.6259.

The kiwi is currently trading at 0.6247, up 0.31 percent on the day as of the time of writing. The data on inflation expectations lessen the likelihood of an aggressive rate hike by the RBNZ.

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