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Survey of Expectations (Business) – April 2023
Expectations for inflation one and two years ahead decreased to 4.28% and 2.79%, respectively. • Expectations for inflation five years ahead (2.35%) remained at a similar level to last quarter (down slightly from 2.36%), but expectations for inflation ten years ahead increased slightly to 2.28%. • Survey respondents expect the OCR to increase to a mean of 5.47% by the end of the June quarter, and to decline to a mean of 4.84% in one year’s time. • Expectations for house price inflation one year ahead had a mean of -2.89%, rising 338 basis points from the -6.27% expected last quarter. • Annual wage inflation ... (full story)