Reserve Bank of New Zealand's 'Sectoral Factor Model Inflation Gauge'.
The RBNZ target band for core inflation is 1-3%.
- RBNZ forecasts show the Bank is expecting inflation to move into the upper half of its 2-3% target band during this year and then to slow in 2022.
- The Bank says it believes higher inflation this year is temporary only and monetary policy stimulus will remain in place. Q1 inflation has indeed accelerated from Q4 2020.
Earlier today:
