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24 Feb 2015
RBNZ inflation survey don't suggest lower rates - Westpac
FXStreet (Bali) - According to Westpac, despite the downbeat RBNZ inflation expectations, the details of the survey don't suggest that respondents see a case for lower interest rates.
Key Quotes
"Despite low current inflation, the details of the survey don't suggest that respondents see a case for lower interest rates."
"Monetary conditions are already perceived to be very loose, and GDP growth forecasts for the next two years were revised up slightly."
"On average, short-term interest rates are expected to be unchanged over the next year."
"The separate survey of household expectations produced a similar result on the inflation front, with expectations for the year ahead falling from 3.1% to 2.6%."
"Household expectations of inflation have been persistently above the inflation target for a long time, and the RBNZ will likely be pleased with how these have moderated in recent quarters."
Key Quotes
"Despite low current inflation, the details of the survey don't suggest that respondents see a case for lower interest rates."
"Monetary conditions are already perceived to be very loose, and GDP growth forecasts for the next two years were revised up slightly."
"On average, short-term interest rates are expected to be unchanged over the next year."
"The separate survey of household expectations produced a similar result on the inflation front, with expectations for the year ahead falling from 3.1% to 2.6%."
"Household expectations of inflation have been persistently above the inflation target for a long time, and the RBNZ will likely be pleased with how these have moderated in recent quarters."