The January figures were -0.1% m/m and -10.6% y/y
The mover for the NZD today has been:
BNZ explain the drop in the NZ dollar on the back of the news as being due to
- the market sees dovish implications for RBNZ -- hikes come later
- plays to the view of a steeper curve, because the long-end continues to be primarily influenced by global rates while this news should keep short-end rates anchored for the meantime