Australasian equities rally on RBA rate cut

Tue, 03 Nov 2020

The New Zealand share market rallied with its Australian counterpart as the Reserve Bank of Australia cut interest rates and expanded its quantitative easing program. The S&P/NZX 50 Index rose 59.48 points, or 0.5 percent, to 12,130.31. Within the index, 29 stocks rose, 16 fell and five were unchanged. Turnover was $133 million.The Reserve Bank of Australia cut the cash rate to a record low 0.1 percent and committed to a A$100 billion bond buying programme to keep interest rates low and assist the recovery of the Australian economy.&nb...

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