Expectations for inflation and big OCR cut in full flight
The RBNZ expectations survey is a mixed bag on the 12-month and a two-year time frame for the fourth quarter of this year.
The survey shows inflation expectations increased slightly to 2.12% in the fourth quarter from 2.03% in the third quarter, but still within the Reserve Bank’s 1-3% target.
On the one year expectation, it dropped to 2.05% from 2.40% in the third quarter of this year.
Expectations by businesses about housing are for prices over the next year to rise 0. 71% to just over 3%, but over two-years expectations fell nearly a 0.25% to 4.17%.
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