Wednesday, 24th July, 2019
This week we discuss the annual New Zealand CPI inflation which lifted to 1.7% in Q2, as widely expected. While annual inflation from some core measures firmed slightly, we do not see this as a barrier to the RBNZ cutting the OCR to 1.25% at the August meeting. We expect this week to be relatively quiet, with key global events including the UK Conservative Party leadership announcement (Wednesday morning), the European Central Bank policy announcement (Thursday night) and US Q2 GDP (Saturday morning). The June Trade Balance is also due for release this week.