Research sheds light on RBNZ concerns over inflation expectations
John McDermott argues the risk of inflation expectations losing their anchor has increased
John McDermott cited concerns over inflation expectations as the "primary motive" for the Reserve Bank of New Zealand's (RBNZ's) rate cut last week. On March 14, the central bank published some of his research into the subject.
In the article, Michelle Lewis, Adam Richardson and McDermott, the RBNZ's head of economics, suggest the risk of inflation expectations losing their anchor has increased. The RBNZ draws on survey-based, market-based and model-based measures of inflation expectations
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