sydneynew zealands oneyear inflation expectations continued to fall in the third quarter taking some of the pressure off the central bank to raise the official cash rate further in the coming months the reserve bank of new zealands latest survey of expectations showed business managers forecast annual inflation to average 417 over the coming year easing from 428 in the previous quarter however twoyear inflation expectations nudged higher to 283 in the third quarter from 279 in the second quarter still the twoyear results are within the central banks target range of 1 to 3 indicating that even if the rbnz raises the ocr further it is unlikely to tighten much further