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- RBNZ Survey: NZ inflation expectations leap in Q4, Kiwi jumps
RBNZ Survey: NZ inflation expectations leap in Q4, Kiwi jumps
New Zealand's (NZ) inflation expectations are seen accelerating across the time curve in the fourth quarter of 2021, the latest monetary conditions survey conducted by the Reserve Bank of New Zealand (RBNZ) showed on Thursday.
Two-year inflation expectations, seen as the time frame when RBNZ policy action will filter through to prices, rose to 2.96% from 2.27% last.
NZ Q4 average 1-yr inflation expectations rose to 3.70% vs. 3.02% seen in the third quarter.
The RBNZ said that the Official Cash Rate (OCR) expectations continue to rise in the short and medium term.
Kiwi jumps above 0.7000
A sharp rise in the NZ inflation expectations for Q4 offered the much-needed impetus to the NZD bulls, driving NZD/USD back above 0.7000.
At the time of writing, the kiwi is trading at daily highs near 0.7015, up 0.24% on the day.
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