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Disappointing CPI

NEW ZEALAND

Disappointing Q3 CPI readings out of New Zealand, with the headline +1.4% Y/Y & +0.7% Q/Q shy of both market (+1.7 Y/Y, +0.9% Q/Q) & RBNZ (+1.8 Y/Y, +1.1% Q/Q) expectations. This comes after the various RBNZ board members have expressed a preference to go hard, and go early re: further easing, while Governor Orr pointed to a preference to be dealing with too much inflation, as opposed to too little. Focus now moves to the RBNZ's sectoral factor inflation model release, due at 03:00 BST.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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