Markets Fully Price 25bps RBNZ Hike To 3.0% On 28 October Despite NZ CPI Coming Slightly Below Forecasts
NZ Q3 CPI Rises 0.7% Q/Q; Annual Inflation Eases To 3.7% From 4.1%, But Expected To Top 4% Again This Quarter - Core Inflation Remains High; Markets Imply Further Tightening To At Least 3.75% Next Year Vs RBNZ Projection Of 3.2% - NZ Dollar Steady At $0.5705 After Rising 0.3% Overnight To One-Month High - Markets Double Probability Of 25bps RBA November Hike To 64% After Hauser s Hawkish Comments - RBA Rate At 15-Year High Of 4.6% After Four Hikes Totalling 100bps This Year - Goldman Sachs Now Expects November Hike Unless Q3 Inflation Surprises To Downside, Previously Forecast Hold - Analysts Suspect Australian Q3 Core Inflation Could Rise 1.0% Q/Q, Taking Annual Rate To 3.6% Vs 2% 3% Target - Australian Dollar Edges Up To $0.7035 After Gaining 0.4% Overnight In Fourth Consecutive Session Of Gains
NZ Q3 CPI Rises 0.7% Q/Q; Annual Inflation Eases To 3.7% From 4.1%, But Expected To Top 4% Again This Quarter - Core Inflation Remains High; Markets Imply Further Tightening To At Least 3.75% Next Year Vs RBNZ Projection Of 3.2% - NZ Dollar Steady At $0.5705 After Rising 0.3% Overnight To One-Month High - Markets Double Probability Of 25bps RBA November Hike To 64% After Hauser s Hawkish Comments - RBA Rate At 15-Year High Of 4.6% After Four Hikes Totalling 100bps This Year - Goldman Sachs Now Expects November Hike Unless Q3 Inflation Surprises To Downside, Previously Forecast Hold - Analysts Suspect Australian Q3 Core Inflation Could Rise 1.0% Q/Q, Taking Annual Rate To 3.6% Vs 2% 3% Target - Australian Dollar Edges Up To $0.7035 After Gaining 0.4% Overnight In Fourth Consecutive Session Of Gains