World News

New Zealand inflation expectation rises in first quarter: RBNZ survey

WELLINGTON (Reuters) – New Zealand’s near-term inflation expectations rose in the first quarter of 2020, a survey showed on Friday.

The Reserve Bank of New Zealand’s quarterly survey of expectations showed business managers forecast annual inflation to average 1.88% over the coming year, from 1.66% in the previous survey in November.

Two-year inflation expectations – seen as the time frame when RBNZ policy action will filter through to prices – rose to 1.9% from 1.8%.

(Reporting by Praveen Menon; Editing by Himani Sarkar)