Double trouble for markets as RBNZ hikes rates

Dan Brunskill
Wed, 13 Apr 2022

Dan Brunskill
Wed, 13 Apr 2022
New Zealand investors had a jolt this afternoon when the Reserve Bank of NZ (RBNZ) dished up a double helping of interest rate hikes, bringing the official cash rate (OCR) to 1.5%.The S&P/NZX 50 Index fell 14.2 points, or 0.1%, to 11,875. Turnover was $156 million.Stocks were already trading lower this morning after US inflation hit 8.5% overnight, but the index dropped another 15 points when the rate hike hit the headlines at 2pm.Overall, the impact on the local equity market was short-lived, with the RBNZ’s policy decision not as ag...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Policy
Political donations over $5k to require declaration
Staff reporters | Mon, 27 Jun 2022

The changes require disclosure of donor identities for any party donations over $5,000 versus the current $15,000. 

Law & Regulation
Public class action fund needed: Law Com
Victoria Young | Mon, 27 Jun 2022

The Law Commission has finalised its report into class actions and litigation funding.

The Economist
House prices braced for a storm
The Economist | Mon, 27 Jun 2022

The pain of rising mortgage repayments will be harder to bear in some places than in others, for example, in NZ and Australia.  

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

Sponsored
High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.