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    RBNZ: Low inflation has been key puzzle in New Zealand economy Dhwani Mehta

    In a discussion paper on inflation published Thursday, the Reserve Bank of New Zealand (RBNZ) talks down the inflation expectations.Key Points:Inflation expectations have become more backward lookingThe speed of adjustment in inflation expectations, proxied by the spread between short- and longer-term inflation expectations, can explain the unusually low inflation. Meanwhile, NZDUSD sits at fresh yearly highs just shy of 0.72 barrier, recording a 0.40% gain on the day.

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