BNZ expect a convincing boost to New Zealand business confidence in coming months

There is data due from New Zealand at 0000 GMT, ANZ business survey (business confidence and outlook):

• Economic calendar in Asia - Japan (Tokyo area) inflation data for January

BNZ snipper preview:

• should show a lift in confidence and activity indicators – it’s hard to believe the survey could be any worse than December’s offering.

But, add BNZ:

• In any case January’s result will be out of date with a more convincing boost to confidence likely in future surveys after the resignation of Ardern and new PM Hipkins, who has already met with businesses to hear their concerns about the direction of government policy.

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We had Q4 CPI data from NZ earlier this week:

• NZ Q4 CPI higher than expected.

And also from the Reserve Bank of New Zealand:

• RBNZ's own CPI indicator 5.8% y/y (prior 5.6%) - this is its Sectoral Factor Model

The RBNZ is expected to raise its cash rate again, by +50bp, at its February 22 meeting: