New Zealand 2 year inflation expectation 2.96% (vs. prior 2.27%)

Reserve Bank of New Zealand (RBNZ) Q4 2021 survey of expectations

• 2 year is 2.96%, up from the Q3 survey at 2.27%
• 1 year is 3.70%, up from Q3 at 3.02%

Its the 2 year that is most focused on.

NZD/USD popped a few points.

RBNZ comments (in summary):

• OCR expectations continue to rise in the short and medium-term
• One year ahead Inflation expectations rose to an eleven-year high of 3.70%

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For background to this:

• RBNZ inflation expectations data due 18 November 2021 - sensitive to a high number
• RBNZ inflation (expectations) data due today