Inflation expectations from the Reserve Bank of New Zealand is due at 0200 GMT
I posted a rundown of why this is is a relevant data point here earlier:
A couple of bank analyst comments:
ASB:
- Inflation expectations from the RBNZ survey are likely to hover below the midpoint of the 1-3% CPI inflation target. Lower annual headline CPI inflation (1.5% yoy) and contained readings for core inflation should dampen upward impetus from rising wage and non-tradable inflation.
- The RBNZ seems to place considerable weight on this survey and will have had access to the Q4 survey results during the November Monetary Policy Statement deliberations.
BNZ, in brief note also:
- RBNZ's 2-year inflation expectations figure, which could nudge lower, given soft headline CPI inflation and the ANZ survey's 1- year-ahead measure has been drifting lower.
- The market might be unusually sensitive to the release ahead of tomorrow's RBNZ MPS, even though it is a lagging indicator with a tiny, unrepresentative sample.
WPAC:
- The RBNZ's 2yr-ahead inflation expectations survey fell from 2.01 to 1.86% in Q3.
- A material move in Q4 could influence the RBNZ's OCR decision on Wednesday.
