Kelly Eckhold

She set the bar very high for a rate hike.

But the problem is this is not going away.

This is a very broad cost shock.

All the business surveys tell you that.

So it's a question of when, not if.

Well, most of those things were driven by one-off type factors, you know, things like the stats agency redefining prices in some way.

And that does happen in New Zealand.

It has happened in New Zealand from time to time in the last few years.

What that just causes is a short downtick in inflation relative to what you're expecting, but then you're right back to the usual service usually quickly after that.

So I wouldn't read too much into that.