We had the official inflation data for Q3 earlier, surging!
This prompted a series of revisions for the RBNZ path ahead, higher:
- Forecasts for RBNZ rate hikes are being ramped higher after surging inflation report (ANZ, ASB, Kiwibank)
- BNZ are now forecasting a 75bp Reserve Bank of New Zealand rate hike on November 23
- Westpac are forecasting a 75bp Reserve Bank of New Zealand rate hike on November 23
Reserve Bank of New Zealand Sector factor model. Says the Bank of its own model:
- We created the sectoral factor model. It estimates the common component of inflation in the CPI basket, the tradable basket, and the non-tradable basket, based upon separate factors for the tradable and non-tradable sectors. The data excludes GST.
![rbnz inflation sectoral model 18 October 2022](https://images.forexlive.com/images/rbnz%20inflation%20sectoral%20model%2018%20October%202022_id_ef0c30d7-2df6-45f4-806c-26053af84f34_size900.jpg)