WELLINGTON (Reuters) -New Zealand’s inflation expectations fell slightly in the third quarter, a Reserve Bank of New Zealand (RBNZ) survey showed on Thursday, with most respondents expecting the central bank to cut the cash rate at the next meeting.
Two-year inflation expectations, seen as the timeframe when RBNZ policy action will filter through to prices, fell to 2.28% from 2.29% in the second quarter, RBNZ’s quarterly survey showed.
That is within RBNZ’s inflation target range of 1% to 3%.
The survey data from 40 business leaders and professional forecasters saw annual price increases averaging 2.37% in the year ahead, down from 2.41% previously.
(Reporting by Lucy Craymer; Editing by Himani Sarkar)
