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(M2) Correction Extends

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(M2) Corrective Cycle Remains In Play

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NEW ZEALAND
NEW ZEALAND: The RBNZ's sectoral inflation model will be in focus at the top of
the hour, and will likely garner additional attention on the back of the
stronger than exp. headline NZ Q3 CPI readings released earlier today, which
topped the RBNZ exp. of 1.8% Y/Y & 0.5% Q/Q, hitting 1.9% & 0.9% respectively.
(transitory factors were certainly a driver but some have highlighted the
emergence of some underlying strength).
- As reminder the RBNZ's sectoral inflation model ticked up to 1.7% Y/Y in Q2,
from 1.6% in Q1.
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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