I'm awaiting the Reserve Bank of New Zealand Sectoral Factor Model Inflation Gauge
- was due at 0200GMT
RBNZ saying tech difficulties are delaying the release.
- Due to technical difficulties there is a small delay in publishing the M1 today. We will publish this data as soon as we can.
Maybe the officer responsible has been held up in a queue at Wuhan airport?
This indicator can be a mover of the NZD.
- The prior for this is 1.7% y/y (its been 1.7% for the past 4 quarters).
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The Sectoral Factor Model Inflation Gauge, in brief (summarised this from RBNZ info)
- Core inflation excludes one-off or highly volatile price movements
- Central banks use core inflation measures to assess what is happening to "underlying" inflation
- The Reserve Bank of New Zealand has a set of models that produce core inflation estimates
- The sectoral factor model estimates a measure of core inflation based on co-movements - the extent to which individual price series move together. It takes a sectoral approach , estimating core inflation based on two sets of prices: prices of tradable items, which are those either imported or exposed to international competition, and prices of non-tradable items, which are those produced domestically and not facing competition from imports
