SYDNEY, Oct 17 (Reuters) - The Reserve Bank of New Zealand (RBNZ) said on Tuesday that its sectoral factor model of core inflation rose 5.2% year-on-year in the third quarter.
The country's official statistics agency earlier in the day released figures that showed inflation hit a two-year low in the third quarter, reducing expectations RBNZ will hike rates more in November and prompting a fall in the New Zealand dollar.
Both measures are closely watched by the RBNZ, which has a monetary policy goal of keeping inflation within its target range of 1% to 3%. RBNZ has raised interest rates to 5.5% from a record low of 0.25% in October 2021 to tame high inflation. (Reporting by Renju Jose in Sydney; Editing by Christian Schmollinger)
