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NZ Dollar Edges Up After Inflation Accelerates Beyond Expectations

October 17, 2017 at 12:34 by Vladimir Vyun

Rolled bills on the plain banknotesThe New Zealand dollar traded a little bit higher against some of its rivals, like the US dollar, while against others, like the euro, it demonstrated more significant gains. One of the possible reasons for the rally was higher-than-expected inflation.

The Consumer Price Index rose 0.5% (0.3% with adjustments for seasonal variations) in the September quarter from the previous three months. That was faster growth than 0.4% predicted by specialists, and it followed no growth (that is 0.0% change) in the June quarter. Still, experts did not anticipate the Reserve Bank of New Zealand to consider monetary tightening in the near future.

NZD/USD ticked up from 0.7168 to 0.7178 as of 12:33 GMT today. EUR/NZD declined from 1.6443 to 1.6375.

If you have any questions, comments, or opinions regarding the New Zealand Dollar, feel free to post them using the commentary form below.

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