This is not over, not by any means. Earlier CPI data is here:
I posted a bit of a follow up here:
where I noted (amongst other stuff):
- Prior to the release the RBNZ was pretty much in 'wait and see' mode, with no urgency to lift the cash rate. There will be even less, much less, after this result. The RBNZ inflation target band is 1 to 3% y/y ... the y/y was 1.9% in Q3 but has dropped to 1.6% y/y with today's figures.
OK ... now still to come today is data direct from the Reserve Bank of New Zealand. The central bank will be publishing their latest 'Sectoral factor model' of inflation ... a 'core' inflation measure
- The sectoral core factor model of inflation is one of many series that the Reserve Bank uses to help interpret inflation developments. The Bank uses these as measures of 'core' inflation, the bank says the gauge here is one of their preferred measures.
The previous release showed the RBNZ preferred measure of core inflation at 1.4% y/y, pretty much bang in the middle of the target band. The Bank was thus in no rush to hilke rates based on the inflation side of their mandate. Let's see what results today, though if the headline result we've just seen is any guide, core will be lower also.
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ps. Go ahead, check your economic calendars .... you will NOT find it listed. Its not like its a secret, but sometimes it pays to tune in to ForexLive where we know stuff the others don't ;-)
Expect the RBNZ data around 0200 GMT Thursday 25 January 2018 (i.e. later today).
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And, if you'd read down this far .... NZD update:
Oh ... latest flow info indicates next level for buy orders is circa 0.7330 ... which corresponds to the post-CPI low we've had so far.
