Breman Warns Higher Oil Prices May Lift Inflation Above September Forecast

New Zealand's Governor of the Reserve Bank, Anna Breman, warned that higher oil prices may push near-term inflation above their September forecast. Speaking on Tuesday, Breman attributed recent increases in global oil prices and longer-term interest rates to a challenging operating environment.

Breman stated that if the higher oil prices persist, they would likely contribute to stronger near-term inflation than the bank projected. The Reserve Bank of New Zealand is scheduled to review its official interest rate in late October.