Falling oil and fuel prices may not deliver the inflation relief many households and businesses are hoping for, with Bank of New Zealand (BNZ) warning they could instead add to medium-term inflation pressures, keeping upward pressure on interest rates.

Falling global oil prices and a stronger rand are improving the inflation outlook, although debt experts warn consumers may wait months before seeing meaningful financial relief.

Falling oil and fuel prices may not deliver the inflation relief many households and businesses are hoping for, with Bank of New Zealand (BNZ) warning they could instead add to…