Investing.com - The Reserve Bank of New Zealand said inflation expectations fell sharply in a first quarter survey released on Tuesday based on respondents that showed a 1.11% gain in prices seen for the year ahead from 1.59% in the fourth quarter, dropping below the midpoint of the Reserve Bank's 1%-to-3% target band for the first time since December 1999.
The RBNZ watches this survey closely and uses this data as an important input in its projections for inflation for its quarterly Monetary Policy Statement.