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New Zealand's inflation expectations pick up for coming year: survey

[WELLINGTON] New Zealand's near-term inflation expectations rose in the second quarter, a survey showed on Tuesday.

The quarterly survey of expectations done on behalf of the Reserve Bank of New Zealand (RBNZ) showed business managers forecast annual inflation to average 1.22 per cent over the coming year, from 1.09 per cent in the previous survey in February.

Two-year inflation expectations - seen as the time frame when RBNZ policy action will filter through to prices - edged up to 1.64 per cent from 1.63 per cent the previous quarter.

REUTERS