RBNZ inflation data opens the door for August rate cut

The Reserve Bank of New Zealand has revised key March figures downwards. (Image: NZME)

Thu, 18 Jul 2024

Data from the Reserve Bank of New Zealand has upped the ante for rate cuts as early as August.The Reserve Bank of NZ’s (RBNZ) sectoral factor model and factor model told a similar story to Stats NZ’s consumers price index (CPI) data earlier Wednesday, which showed annual inflation at 3.3% in the June quarter. The sectoral factor model was at 3.6%, while the factor model was at 2.8% in the June quarter. That was down from 4.2% and 3.6% respectively in March. “We are seeing inflation essentially roll over,” ASB Bank s...

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