New Zealand's near-term inflation expectations fell steeply in the second quarter, a survey showed on Thursday.
The Reserve Bank of New Zealand's quarterly survey of expectations showed business managers forecast annual inflation to average 0.74% over the coming year, down from 1.88% in the previous survey.
Two-year inflation expectations, seen as the time frame for RBNZ policy action to filter through to prices, fell to 1.24% from 1.93%.
(Reporting by Praveen Menon; Editing by Clarence Fernandez)
