A clear signal for the Reserve Bank out of the latest survey on business confidence

NZIER's latest Quarterly Survey of Business Opinion shows a net 62 percent of businesses expect a deterioration in economic conditions ahead.

It's the weakest level since March 2020.

Principal Economist Christina Leung says we're seeing uncertainty around the impact of high interest rates, as well as an intensification of inflation pressures.

She says nothing in today's report should dissuade the Reserve Bank from its projected aggressive path of monetary policy tightening.