Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The RBNZ’s measure of core inflation from its sectoral factor model moderated to 5.2% in Q3 from 5.7% where it had been since Q4 2022. It is still elevated but the lowest reading since Q2 last year and is likely to be a relief to the RBNZ that underlying price pressures are finally easing. But the move was predominantly driven by core tradeables moderating to 3.8% from 4.6% whereas the domestically-driven core non-tradeables were only 0.1pp lower at 5.1%. The Q3 inflation data released today point to the RBNZ staying on hold in November and a number of analysts have taken a hike then out of their forecasts.
NZ core CPI y/y% vs inflation expectations %
Source: MNI - Market News/Refinitiv/RBNZ
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.