New Zealand CPI data higher than expected – ASB sees RBNZ staying on sidelines

The New Zealand Q2 inflation data was published earlier from Stats NZ:

NZD/USD was marked up, but if you check out your charts you’ll see it wasn’t sustained:

ASB on the data:

  • core inflation remains stubborn
  • sticky non-tradeables inflation
  • RBNZ will be kept on alert and will hold rates high for a good while to come
  • RBNZ remains on hold though

NZD update:

This article was written by Eamonn Sheridan at Source