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 Reserve Bank of New Zealand has seen further evidence of persistent inflation four weeks out from its next meeting, with price pressures remaining "intense" for New Zealand businesses, according to the latest ANZ New Zealand Business Outlook, released on Wednesday.
While pricing intentions fell to 64.5 in October from 68 in September, indicating that a net 65% of firms surveyed intend to raise prices over the next three months, they are easing only gradually and remain at elevated levels. Cost expectations dipped to 88.6 from 89.8. Despite the lower pricing intentions, one-year inflation expectations as measured by the survey rose to 6.13% from 5.98% in September.
Overall, business confidence fell 6 points to -43 in October, while the gauge of expected own activity outlook fell to -2.5 from -1.8.
The RBNZ is expected to consider raising its Official Cash Rate by a hawkish 75bp points to 4.25% at its November 23 meeting. (See MNI BRIEF: CPI Shock May Push 75bp Hike On To RBNZ Radar)
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.