New Zealand's inflation expectations jump in Q1

[WELLINGTON] New Zealand's near-term inflation expectations rose in the first quarter, a central bank 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 1.56 per cent over the coming year, from 1.29 per cent in the previous survey in November.

Two-year inflation expectations - seen as the timeframe over which RBNZ policy action filters through to prices - rose to 1.92 per cent from 1.68 per cent.

REUTERS