NZ ANZ Business Confidence Slumps to -10.6 as Inflation Expectations Hit Feb 2024 Peak

New Zealand's ANZ business confidence has crashed to -10.6 in April from +32.5 in March, with own-activity outlook weakening to +19.6 from +39.3, amid surging cost expectations at 4.57%—highest since May 2023—and one-year inflation views at 3.81%, the top since February 2024. Initial reports flagged the 43-point sentiment plunge signaling demand weakness, updates tied it to Middle East cost shocks, and the latest analysis highlights stagflation risks complicating RBNZ policy. This mixed signal pressures NZDUSD lower on growth fears but offers rate support from inflation, with traders eyeing UK/US data for direction.