RBNZ Survey: NZ inflation expectations drop further to 2.50% in Q1 2024


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New Zealand’s (NZ) inflation expectations extended their decline on a 12-month and a two-year time frame for the first quarter of 2024, the Reserve Bank of New Zealand’s (RBNZ) latest monetary conditions survey showed on Tuesday.

Two-year inflation expectations, seen as the time frame when RBNZ policy action will filter through to prices, eased slightly from 2.76% seen in Q4 2023 to 2.50% in Q1 of this year.

NZ average one-year inflation expectations dropped to 3.22% in the quarter to March vs. 3.60% seen in the final quarter of 2023. 

NZD/USD wilts on softening inflation expectations

The New Zealand Dollar (NZD) came under renewed selling pressure, in the face of falling inflation expectations. At the press time, NZD/USD is losing 0.42% on the day to test the 0.6100 barrier.

New Zealand Dollar price today

The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the weakest against the Japanese Yen.

  USD EUR GBP CAD AUD JPY NZD CHF
USD   0.09% 0.10% 0.02% 0.15% 0.00% 0.37% 0.06%
EUR -0.08%   0.02% -0.05% 0.07% -0.08% 0.28% -0.02%
GBP -0.09% -0.02%   -0.07% 0.05% -0.10% 0.27% -0.03%
CAD -0.04% 0.05% 0.06%   0.09% -0.03% 0.33% 0.03%
AUD -0.15% -0.06% -0.05% -0.12%   -0.15% 0.22% -0.05%
JPY 0.00% 0.10% 0.10% 0.03% 0.15%   0.36% 0.07%
NZD -0.37% -0.29% -0.28% -0.35% -0.23% -0.38%   -0.31%
CHF -0.06% 0.02% 0.03% -0.03% 0.08% -0.07% 0.31%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).