New Zealand data - Q4 PPI rises

New Zealand PPIs for Q4 2023 came in under the Q3 rises.

The Reserve Bank of New Zealand meet on 28 February and expectations are rising for an interest rate hike:

• ANZ says the RBNZ has no tolerance for delays in the return of inflation to target

A hike is not the consensus view. The lower PPI results will be some comfort to the RBNZ.