Reserve Bank of New Zealand survey of inflation expectations data is due at 0200 GMT on 18 November 2021.
- Inflation expectations for 1 year out 3.02% (from 1.87%)
- for 2 years out 2.27% (from 2.05%)
The results are expected to clearly show continued expectations of much higher inflation in NZ. The September quarter CPI in New Zealand was hot, well above the median estimate of analysts:
Business surveys in New Zealand point to intense inflationary pressures on firms:
The RBNZ CPI target band is 1 to 3%. IF expectations head above 3% it argues for more forceful tightening from the Reserve Bank of New Zealand to re-anchor expectations. The Bank is already expected to tighten at the meeting later this month (November 24) but a strong upside showing today will argue for quicker rate hikes in 2022.
RBNZ meetings in the pipeline: