Negative rates even less likely after strong CPI

Fri, 22 Jan 2021

Higher prices for domestic accommodation, building a new home, and used cars have knocked negative rates off the table.The Consumers Price Index lifted 0.5 percent in the December quarter and annual inflation came in at 1.4 percent, within the Reserve Bank of New Zealand’s 1 to 3 percent target range but below the mid-point.“The fourth quarter CPI report was much stronger than we, and the market, had expected,” said Kiwibank chief economist Jarrod Kerr.The market had been expecting a 0.2 percent lift in line with the RBNZ&rsqu...

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