15 Oct 2013
Flash: New Zealand CPI to confirm inflation has bottomed - BNZ
FXstreet.com (Barcelona) - In view of Economists at Bank of New Zealand today's CPI may partly determine NZD’s fortunes.
Key Quotes
"We, consensus and the RBNZ are all closely aligned in expecting a pickup in annual CPI from 0.7% to 1.2%. This should confirm inflation has bottomed ahead of a gradual rise we expect through next year."
"We believe OCR ‘normalisation’ is necessary in order that annual CPI does not breech the top of the RBNZ’s 1-3% target band over the next couple of years."
"For today, NZD/USD resistance remains at 0.8400. Support should be found around 0.8340."
Key Quotes
"We, consensus and the RBNZ are all closely aligned in expecting a pickup in annual CPI from 0.7% to 1.2%. This should confirm inflation has bottomed ahead of a gradual rise we expect through next year."
"We believe OCR ‘normalisation’ is necessary in order that annual CPI does not breech the top of the RBNZ’s 1-3% target band over the next couple of years."
"For today, NZD/USD resistance remains at 0.8400. Support should be found around 0.8340."