NZD down after the RBNZ inflation expectations data

One of the longer-term inflation expectations rose. It is not at levels that'll be too much concern though.

Earlier post is here:

• Long-term inflation expectations remain anchored close to the midpoint of the RBNZ’s target band range of 1 – 3%.

On the longer term indications, 10-yr rose:

• Mean five-years-ahead inflation expectations were slightly lower than last quarter’s value of 2.42%, coming in at 2.33%.
• The mean ten-years-ahead inflation expectation also saw a small change. The 2.13% figure posted this quarter represents just a two basis point rise from 2.11%.
• The Reserve Banks’ inflation target band is 1 – 3%.

NZD/USD dropped: