New Zealand's inflation just broke through the Reserve Bank's comfort zone—we're talking above that 1-3% target band they've been sweating over. The Q4 numbers came in hotter than expected, and here's the thing: economic recovery's doing what it always does, cranking up price pressures. When central banks start facing inflation surprises like this, it ripples across markets. Tighter monetary policy expectations can shift how capital flows, including into alternative assets.