Inflation as expected, won't worry RBNZ

Inflation as expected, won't worry RBNZ
Petrol prices rose 7.2%, the biggest quarterly rise since June 2015.
Rebecca Howard
Second-quarter inflation was bang on expectations and will allow the Reserve Bank of New Zealand to keep interest rates on hold at a record low of 0.25%.The Consumers Price Index lifted 0.8% on the quarter and annual inflation was 1.5% on the year, as predicted by a Bloomberg survey of 19 economists.It was in fact slightly lower than the central bank’s forecast for a 1.0% rise on the quarter and 1.7% on the year.However, “there was nothing in today’s report the RBNZ would be surprised by, or even react to”, said Kiwibank...

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