New Zealand inflation data for Q2 due 2245GMT – preview

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New Zealand inflation data for Q2 due 2245GMT – preview





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This via Westpac:

  • We expect a 0.1% rise in the Consumer Price Index for the June quarter
  • This would bring the annual inflation rate down from 2.2% to 1.8%
  • A well-publicised spike in vegetable prices has been offset by a fall in fuel prices. We expect other seasonal influences to be a slight negative on balance.
  • Our forecast is below the Reserve Bank’s estimate of a 0.3% quarterly rise. However, the Reserve Bank was already expecting the recent pickup in inflation to recede over the coming year.
  • We expect the OCR to remain unchanged until 2019, in contrast to market expectations of a rate hike by mid-2018.




















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