1Q inflation looking hotter than the RBNZ expects

The Reserve Bank expects the CPI to lift 0.4% quarter-on-quarter, but Westpac and BNZ expect twice that. (Image: Getty)

Thu, 14 Mar 2024

Economists see upside risks to the central bank’s first quarter inflation forecasts but say recent data won’t ruffle too many of its feathers.The Reserve Bank is expecting the consumers price index (CPI) to lift 0.4% quarter-on-quarter and for annual inflation to be 3.8%.The bank is mandated with keeping annual inflation between 1% and 3%. It was 4.7% in December. At its latest monetary policy review in February, the central bank kept the official cash rate on hold at 5.5% but reiterated any planned interest rate cuts wouldn&rs...

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