NZ Stocks Rebound on Eased Inflation Expectations

New Zealand stocks rebounded from a tough night in US markets as inflation expectations cooled, boosting the local market.

The Reserve Bank of New Zealand's quarterly survey showed one-year-ahead consumer price inflation expectations dipping to 2.99% in the September quarter, easing worries about central bank interest rates.

Investors track this number because it can shape how tough the central bank needs to be: if expected inflation eases, markets tend to price in a less-restrictive interest-rate path.

The survey also revealed that goods imports rose NZ$2.1 billion in July from a year earlier to NZ$9.3 billion, and credit card spending rebounded 1.4% from the prior month to NZ$4.45 billion.