According to Jinshi Data, Rodrigo Catril, a strategist at the National Australia Bank, said that New Zealand's inflation data was "mixed", making the Reserve Bank of New Zealand's decision on interest rates "unpredictable".
Catril pointed out that although the overall data is close to the target range, the Reserve Bank of New Zealand is concerned about the slow progress of non-trade inflation. The National Australia Bank believes that November may be the beginning of the Reserve Bank of New Zealand's interest rate cut cycle, but further deterioration in economic activity data in the coming weeks will make them inclined to cut interest rates in August. The next interest rate decision of the Reserve Bank of New Zealand will be announced on August 14.
