EN:New Zealand dollar exchange rates take a hit as inflation weakens
New Zealand dollar exchange rates fell today on news that New Zealand inflation declined in Q3 but remains elevated relative to the central bank's target and history.
CPI inflation was 0.4% q/q and 4.6% y/y in Q3, declining from 1.0% q/q and 5.3% y/y in Q2 and below the consensus and RBNZ forecasts. Tradable inflation was 0.1% q/q and 4.6% y/y while non-tradable inflation was 0.6% q/q and 4.5% y/y.
