New Zealand CPI eases more than expected in Q2, pushes RBNZ rate cut bets
Investing.com-- New Zealand consumer price index inflation eased more than expected in the second quarter, furthering bets that the economy was cooling at a pace that could invite interest rate cuts by the Reserve Bank.rose 3.3% year-on-year in the three months to June 30, government data showed on Wednesday. The reading was softer than expectations of 3.5% and a rise of 4% in the prior quarter.
The RBNZ had signaled during its July meeting that any cuts in interest rates will be largely dependent on easing inflation. Wednesday’s reading furthered bets that the central bank will now have enough confidence to begin trimming rates later this year.
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