New Zealand inflation data today has pricing for an RBNZ 50bp rate cut at around 67%

January 22, 2025
-FCHFX

January 22, 2025 at 03:57AM
Official data for Q4 CPI from New Zealand shows inflation firmly in the Reserve Bank of New Zealand’s 1 to 3% band.

The RBNZ has a focus on keeping inflation around the 2% midpoint over the medium term.

This target is set in the Remit for Monetary Policy, agreed upon between the RBNZ and the New Zealand government, and guides the central bank’s interest rate decisions to maintain price stability while supporting sustainable economic growth.

The data released today:

New Zealand Q4 2024 CPI slightly higher than expected

RBNZ’s own preferred inflation model 3.1% y/y for Q4 2024 (prior 3.4%)

While that second measure is slightly above, its moving in the desired direction.

The RBNZ next meet on February 19. Market pricing is around

33% for 25bp rate cut

and 67% for a 50bp cut

This article was written by Eamonn Sheridan at www.forexlive.com.

New Zealand inflation data today has pricing for an RBNZ 50bp rate cut at around 67%

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