Daily Alert: Steady the ship

  • Offshore markets have spent the night steadying themselves after the US inflation-inspired volatility of the previous night.
  • October REINZ data out yesterday showed another strong month for NZ’s housing market, albeit with a return to form from Auckland over-inflating the headline numbers.
  • NZ food price data for October (-0.9% mom, +3.7% yoy) didn’t change our view that annual CPI inflation is on track to hit 6% later this year.

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