May 24 (BusinessDesk) – New Zealand business managers expect inflation will accelerate over the next two years and interest rates will rise over the coming 12 months, according to the Reserve Bank’s survey of expectations.
The consumer price index is expected to reach 3.12% in a year’s time, up from the 2.87% year-ahead rate expected last quarter. CPI would speed to 3% in two years time, up from a previous estimate of 2.64%.
Quarterly CPI of 0.87% is expected for the three months ending June 30, up from a 0.77% rate see in the last survey. They would translate into annual inflation of 4.4% and 5.1% respectively.......
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