Uncertainty about how long it's going to take to rein in inflation, on both sides of the Tasman

In a new speech this morning, Reserve Bank Chief Economist Paul Conway has outlined much of the current inflation is being domestically generated, particularly from services.

He also says it's being more supply-side driven, especially via labour.

JMI Wealth Director Andrew Kelleher says inflation is also staying sticky in Australia -- where its central bank is keeping the cash rate unchanged at 4.35 percent.

He describes it on balance as being moderately hawkish - keeping all options open - cut or hike.