Published: 2024-04-17T06:00:16.000Z
NZD/USD flows: NZ CPI Arrived at 4%
FX Analyst
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New Zealand Q1 CPI comes in at +4.0% y/y, 4.7% prior, +0.6% q/q, prior +0.5%.
As RBNZ has previewed, NZ Q1 CPI came in at 4% y/y, continues to moderate but well above RBNZ target. While RBNZ has put the blame on transitory factor, it no doubts delay the step of potential easing as we see the bank has delayed the first cut from end of 2024 to start of 2025.
Kiwi cheers on the hot CPI and see NZD/USD trades 0.29% higher at 0.5898.