New Zealand's (NZ) inflation expectations keep pushing higher across the time curve in the second quarter of 2022, the latest monetary conditions survey conducted by the Reserve Bank of New Zealand (RBNZ) showed on Thursday.

Two-year inflation expectations, seen as the time frame when RBNZ policy action will filter through to prices, came in a tad higher at 3.29% from 3.27% last.

NZ Q2 average one-year inflation expectations rose to 4.88% vs. 4.40% seen in the first quarter. 

Kiwi shrugs off inflation data

The rise in NZ inflation expectations failed to lift kiwi bulls, as NZD/USD holds the lower ground.

At the time of writing, the kiwi is trading at 0.6270, down 0.46% on the day.