New Zealand’s Consumer Price Index (CPI) rose 2.2% QoQ in the fourth quarter (Q4) of 2024, compared with the 2.2% increase seen in the third quarter, according to the latest data published by Statistics New Zealand on Wednesday.
New Zealand’sConsumer Price Index rose 2.2% YoYin the fourth quarter of 2024, compared with the 2.2% increase seen in the third quarter, according to the latest data published by Statistics New Zealand on Wednesday. The market consensus was for a growth of 2.1% in the reported period. The quarterly CPI inflation eased to 0.5% in Q4 from the previous print of 0.6% and in line with the market consensus of 0.5%. Market reaction At the time ofwriting, theNZD/USD pairis trading 0.
To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD.
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