Beyond being our demonstrable superior in all matters rugby, New Zealand is an important leading indicator for Australia in many respects. I have had first-hand exposure to conditions following an invitation to present to an asset-allocation conference in Auckland.

The Reserve Bank of New Zealand has led the world in fighting inflation with very tight monetary policy, first lifting its cash rate in October 2021, about six months before its slower Antipodean brother (or sister under the new Bullock regime).