New Zealand Q3 2 year inflation expectations: 1.65% (prior 1.64%)

A tiny speck of a rise in inflation expectations in the latest RBNZ survey

• 1.65% for 2 year expected, vs. 1.64% previously
• For the 1-year out expected, to 1.26% (from 1.22%)

The latest NZ inflation data puts the current CPI at 0.4%

So, in 1 year survey participants reckon inflation will be higher by a factor of 3. And in 2 years by a factor of 4. Big calls.