Equities fall as inflation expectations rise

Tue, 09 Feb 2021

New Zealand equities pulled back again on Tuesday as a Reserve Bank survey showed rising inflation expectations, prompting bond yields to step higher as the market priced in the risk of interest rate hikes.The S&P/NZX 50 Index fell 126.18 points, or 1 percent, to 12,927.69. Within the index, 27 stocks fell, 20 rose and three were unchanged. Turnover was $161.5 million.Senior Westpac economist, Satish Ranchhod, said longer term inflation expectations - which rose 30 basis points to 1.89 percent - are a key focus for the central bank’s...

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