Market Close: Global central banks keep rates low

Market Close: Global central banks keep rates low
Dan Brunskill
New Zealand shares rose with overseas markets after both the US Federal Reserve and the Bank of England held interest rates low.The S&P/NZX 50 Index rose 130.67 points, or 1%, to 13074.61. Turnover was $220 million.Mark Smith, a senior economist at ASB Bank, said markets “breathed a collective sigh of relief” when the US Federal Reserve signalled it was in no hurry to hike interest rates.“This provided a boost to global equities, with the MSCI global equity gauge hitting a record high after the decision and with gains in U...