New Zealand CPI response: ASB forecast first RBNZ rate cut in February 2025, from Nov 2024 ...Middle East

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New Zealand CPI response: ASB forecast first RBNZ rate cut in February 2025, from Nov 2024
ASB response to the data earlier:New Zealand Q1 CPI comes in at +4.0% y/y (vs. 4.0% expected)That post highlights very strong non-tradeable inflation. Services inflation also remains sticky high.The RBNZ are likely to continue to hold higher for longer, as indeed ASB expect. ***"Tradable" and "Non-tradable" inflation are terms used to describe different aspects of inflation based on the nature of the goods and services involved.Tradable Inflation:Definition: Tradable inflation refers to inflation in goods and services that are traded internationally.Examples: Commodities like oil, metals, agricultural products, and manufactured goods like electronics and automobiles.Characteristics: Prices

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