New Zealand's (NZ) inflation expectations extended their decline on a 12-month and a two-year time frame for the second quarter of 2024, the Reserve Bank of New Zealand’s (RBNZ) latest monetary conditions survey showed on Tuesday.

Two-year inflation expectations, seen as the time frame when RBNZ policy action will filter through to prices, eased slightly from 2.50% seen in Q1 2024 to 2.33% in Q2 of this year.

NZ average one-year inflation expectations dropped to 2.73% in Q2 vs. 3.22% seen in the first quarter of 2024