NZ CPI q/q

New Zealand consumer price inflation came in slightly hotter than both market and RBNZ expectations for the December quarter. However, the overshoot doesn’t appear significant enough to derail expectations for another likely supersized rate cut from the bank in February. Headline inflation rose 0.5% for the quarter and 2.2% over the year—just a tenth above market and RBNZ forecasts. While marginally higher than policymakers anticipated, the annual rate remained unchanged from Q3 and sits within touching distance of the RBNZ’s 2% ...

New Zealand consumer price inflation (CPI) fell to the lowest level since early 2021 in the September quarter, seeing markets retain the view the Reserve Bank of New Zealand (RBNZ) will deliver another jumbo rate cut in November. NZD/USD has moved back towards range lows ahead of another key inflation measure. Back in the band, finally Headline CPI rose 0.6% over the quarter and 2.2% over the year, leaving the annual rate within the RBNZ 1-3% target band for the first time since early 2021. Importantly, it the annual increase was a ...

New Zealand’s annual inflation rate fell sharply in the third quarter, returning to the central bank’s target band for the first time in more than three years. The rate fell to 2.2% from 3.3% in the second quarter, Statistics New Zealand said Wednesday in Wellington. The result matched economists’ expectations while the Reserve Bank had forecast 2.3%. Consumer prices advanced 0.6% from three months earlier, less than the 0.7% estimate of economists. The RBNZ began an easing cycle in August with a 25 basis-point cut to the Official ...

There is a tonne of China data to chew through this coming week. It’s just a shame not of it will account for much, given none of it doesn’t capture output from the recently announced stimulus. Besides, we’ve already seen outlandish moves from China’s stock markets (40% rally on China A50 in nine days, as one example) so the plethora of backwards-looking data is not likely to make much of an impact on sentiment, or AUD/USD for that matter. Still, the data such as GDP warrants a look for a basic grasp of global growth, and CPI for ...

Following the RBNZ, which cut interest rates by 50 basis points this Wednesday, the central bank torch will be passed next week to the ECB. Although last time, President Lagarde and her colleagues did not back an October rate cut, their stance started to shift following the disappointing PMIs and the slide in headline inflation below 2%, prompting market participants to increase bets of such an action. Currently, investors are nearly fully pricing in a quarter-point reduction at Thursday’s gathering, while expecting another one in ...

During the Asian trading session, the New Zealand dollar (NZD) saw significant movement following the latest Consumer Price Index (CPI) report. This report resulted in the NZD/USD rate rising to an intra-day high of 0.6082 and the AUD/NZD rate dropping to an intra-day low of 1.1073. The CPI report from New Zealand presented a mixed scenario. On the positive side, headline inflation slowed to 3.3% year-on-year in Q2, down from 4.0% in Q1, marking the slowest increase since Q2 2021. The Reserve Bank of New Zealand (RBNZ) had projected ...