Market Close: Inflation pushes bond yields to new high

Dan Brunskill
Thu, 28 Oct 2021

Inflation has been positive for the NZ dollar as the Reserve Bank of New Zealand is trusted to hike rates to keep it under control. (Image: Deposit Photos)
Inflation has been positive for the NZ dollar as the Reserve Bank of New Zealand is trusted to hike rates to keep it under control. (Image: Deposit Photos)
Dan Brunskill
Thu, 28 Oct 2021
New Zealand shares were generally lower Thursday as market interest rates climbed to new highs after surprisingly strong inflation data in Australia increased the odds of interest rate hikes. “The domestic rates market was rocked by the Australian inflation shocker,” said BNZ interest rate strategist, Jason Wong.Data showed inflation rose 0.7% in the September quarter, putting annual inflation inside the Reserve Bank of Australia’s target range at 2.1%. This saw the yield curve flatten significantly as rates across t...

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