Lower inflation expectations will please RBNZ

(Image: Getty)

Fri, 12 May 2023

The mean two-year-ahead inflation expectation fell back into the inflation band of 1-3% for the first time since December 2021, according to the Reserve Bank of New Zealand’s latest survey.It decreased by 51 basis points to 2.79% from 3.30% in the previous quarter.The Reserve Bank of NZ (RBNZ) is mandated with keeping inflation between 1% and 3%, with a focus on the midpoint. Annual inflation is currently running at 6.7%.The mean one-year-ahead inflation expectation decreased from 5.11% to 4.28%, 83 basis points lower than the last quarte...

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