RBNZ: NZD’s continued depreciation has worsened inflation

The RBNZ naming currency weakness as an inflation driver matters because it reframes a weaker NZD as a domestic price problem rather than a trade-competitiveness story, which narrows the central bank's room to look through imported inflation. The disclosure is notable for its direction, not its detail: no figures or transmission channels were offered, so the claim stands as an assertion rather than a quantified assessment. What's worth watching is whether the RBNZ elaborates on the mechanism and whether the currency-inflation link becomes an explicit factor in future policy communication.