NZ data: 2 year inflation expectations down to 1.86%

And for the one year to 1.71%

The 2 year expectation is at its lowest since Q4 of 2016

Via Reserve Bank of New Zealand survey for expectations for Q3 2019.

Both of these well below the priors:

• 2 year 2.01%
• 1 year 1.97%

Earlier we had jobs data from NZ:

• New Zealand Q2 unemployment rate 3.9% (vs. expected at 4.3%)

Which sent the NZD higher. This data on expectations for inflation will be a weight on the currency now.

The RBNZ meet tomorrow, most expect the Bank to cut the cash rate.