ANZ Research has downgraded its Q2 2026 CPI forecast to 1.5% q/q following May's Selected Price Indexes data. Despite lower near-term inflation, the RBNZ is still expected to proceed with a 25bp rate hike in July.
Key Takeaways
- 1.ANZ downgraded its Q2 2026 CPI forecast from 1.8% to 1.5% q/q based on May SPI data.
- 2.Despite the near-term inflation downgrade, the RBNZ is still expected to begin withdrawing monetary stimulus via a 25bp hike in July.
Table of Contents
- Data summary
- May SPI warrants downgrade to Q2 CPI forecast
- Key points
- The details
- Important Notice
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Authors
Miles Workman
Themes
Inflation ForecastingMonetary Policy
Regions
Asia PacificNew Zealand