ONLY CHARTS #207

NZ inflation expectations, China CPI, Canada labour market, World food prices

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1. 2-year ahead inflation expectations of respondents to the RBNZ’s survey of professional forecasters ticked up to 2.12% in Q4 but remained close to the mid-point of the 1-3% inflation target.

2. The RBNZ’s survey also revealed an average expectation for the OCR of 4.20% by the end of Q4 this year, with more than half of respondents expecting the OCR to be cut by 50bps to 4.25%.

The mean one-year-ahead OCR expectation was 3.33%.