Interest rate fears dampen NZ sharemarket
Inflation data does not convince investors that interest rates will continue to rise. (Image: Getty)
The New Zealand sharemarket couldn’t fire up on the news that inflation is on the way down, knowing that interest rates are still likely to move higher.Despite a lunchtime rebound, the S&P/NZX 50 Index closed the session down 38.13 points or 0.32% to 11,879.68. There was an even spread of 66 gainers and 60 decliners over the whole market, with 29.72 million shares worth $120.15m changing hands.Jeremy Sullivan, investment advisor with Hamilton Hindin Greene, said core domestic (non-tradeable) inflation was still increasing and th...
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