New Zealand's (NZ) inflation expectations ease across the time curve in the third quarter of 2022, the latest monetary conditions survey conducted by the Reserve Bank of New Zealand (RBNZ) showed on Monday.
Two-year inflation expectations, seen as the time frame when RBNZ policy action will filter through to prices, came in a tad lower at 3.07% from 3.29% previous.
NZ Q3 average one-year inflation expectations ticked down to 4.86% vs. 4.88% seen in the second quarter.
Kiwi shrugs off inflation data
The easing in NZ inflation expectations clipped the wings of kiwi, as NZD/USD slipped from daily highs of 0.6259.
At the time of writing, the kiwi is trading at 0.6247, still up 0.31% on the day. The inflation expectations data douse chances of a hawkish RBNZ rate hike.
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