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Investors stick to sidelines ahead of ‘colossal’ Fed meeting

Dan Brunskill
Wed, 04 May 2022

Investors stick to sidelines ahead of ‘colossal’ Fed meeting
Jerome Powell, chair of the US Federal Reserve. (Image: Getty)
Dan Brunskill
Wed, 04 May 2022
NZ’s benchmark equity index finished Wednesday virtually unchanged with investors unwilling to make moves before the US Federal Reserve meeting tomorrow.The S&P/NZX 50 Index fell just 7 points (0.01%) to 11,675.21. Turnover was unusually light at $85.6 million.Stephen Innes, a managing partner at SPI Asset Management, said financial markets were in a “holding pattern” ahead of the “colossal” Fed meeting.Investors generally expect a 50 basis points (bps) hike and some quantitative tightening to go ahead wit...

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