Data-heavy day flattens NZ market

It was all quiet on the NZ sharemarket front today. (Image: Getty)

Thu, 15 Jun 2023

It was all quiet on the New Zealand sharemarket front today, even as the US Federal Reserve rate pause was announced, closely followed by the reveal that gross domestic product (GDP) had shrank 0.1%.Statistics NZ said the GDP shrinking in the three months ended March 31 had followed a slightly larger contraction than previously reported of 0.7% in the December quarter.Also, the US Federal Reserve announced early Thursday morning (NZ time) that it was taking a much-anticipated pause in its rate hikes – but a couple more are likely on the c...

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