RBNZ’s own core inflation data model for Q2: 4.8% (vs. prior at 4.6%, revised from 4.2%)

Rate hike path is still higher from the RBNZ. If there was any doubts this puts paid to those.

Earlier from New Zealand:

• New Zealand Q2 CPI 1.7% q/q (expected 1.5%)
• Goldman Sachs forecast no change to RBNZ policy tightening path ahead
• ANZ in New Zealand forecast RBNZ cash rate to peak at 4.0% (was 3.5% peak )