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NZ CPI surprises to the upside at 2.5% in Q1, domestic pressures driving

New Zealand’s consumer prices rose more than expected in the first quarter, with CPI climbing 0.9% qoq and accelerating from 2.2% yoy to 2.5% yoy, above forecasts of 0.7% qoq and 2.3% yoy. Nevertheless, this still marks the third consecutive quarter that annual inflation has stayed within RBNZ’s 1–3% target band. Tradeable inflation, reflecting imported […]

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Fed’s Powell warns of dual-mandate tensions ahead

In a speech overnight, Fed Chair Jerome Powell pointed to substantial changes underway, by US administration, in trade, immigration, fiscal policy, and regulation—all of which are still “evolving” and difficult to assess in terms of economic impact. In particular, Powell acknowledged that the scale of tariff increases already announced is “significantly larger than anticipated,” and […]

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