Aussie interest rate move boosts two sharemarkets

Australian central bank's pause in interest hikes lifts shares on both sides of the Tasman. (Image: Getty)

Tue, 04 Jul 2023

The sharemarkets on both sides of the Tasman enjoyed another strong day after the Reserve Bank of Australia put a hold on interest rate rises.The S&P/NZX 50 Index continued to track upwards following the afternoon announcement and closed at 11,980.33, gaining 63.46 points or 0.53% after reaching an intraday low of 11,875.56.The S&P/ASX 200 Index staged a big turnaround when the Reserve Bank of Australia (RBA) said it was keeping the cash rate at 4.1%, at least until next month’s meeting.The Australian securities exchange (ASX) ind...

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