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Falling Inflation Expectations in New Zealand
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New Zealand's falling inflation expectations lead to expectations of a standstill in official interest rates. The Reserve Bank of New Zealand's inflation expectations for the next year dropped to 3.22% from 3.60%, while the two-years ahead measure declined to 2.50% from 2.76%. Despite elevated headline inflation at 4.7%, the central bank is likely to remain cautious and is expected to keep the official cash rate on hold this year, with no cuts until early 2025.
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How do falling inflation expectations globally influence the monetary policies of other central banks?
How might the cautious approach of the central bank impact the New Zealand economy in the short term?
What factors could influence the central bank's decision to keep the official cash rate on hold despite elevated headline inflation?
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