RBNZ to take data-dependent, cautious bias about further cuts
Statistics NZ data shows food prices jumped 5% in the year ended July, as inflation pressures bubble away.
The cost of groceries led the increase.
The Reserve Bank is widely expected to cut the official cash rate again next week and could signal a sub-3% rate by the end of the year despite firmer inflation pressures, economists suggest.
Economists broadly expect the central bank to cut by 25 basis points to 3% on Wednesday.
But in the
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