ANZ bank concluding from today's soft New Zealand inflation that there is no urgency for the central bank to hike
Few signs of broad based price domestic price pressures ... cites retail discounting
Forecast now is rate rise mid 2018
- prior forecast was November 2018
Makes sense.
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Data (and more) here ICYMI:
- NZ Q4 CPI: 0.1% q/q (expected 0.4%)
- NZD after the inflation data ... No soup for you!
- Ladies and gentlemen trading the NZD ... MOAR inflation data to come today!
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Also, ASB:
CPI suggests that inflation yet to stage a convincing comeback
- Core inflation reinforced weak underlying inflation pressure
The Q4 data raises numerous questions about the strength of inflation moving forward
- And reinforces that there is no need for the RBNZ to raise interest rates anytime soon