WELLINGTON, May 12 (Reuters) - New Zealand's near-term inflation expectations rose in the second quarter of 2022, a survey showed on Thursday.
The Reserve Bank of New Zealand's quarterly survey of expectations showed business managers forecast annual inflation at 4.88% over the coming year, from 4.4% in the previous survey.
Two-year inflation expectations - seen as the time frame when RBNZ policy action will filter through to prices - were up slightly to 3.29% from 3.27%.
The two-year inflation expectations were below analyst expectations and a lot lower than the market had priced in and lessens the need for the central bank to increase the cash rate by another 50 basis points when it meets later this month.
