NZ equities shrug off bond rally and war threat

A strong local earnings season saw NZ stocks rise despite inflation and brinksmanship in Ukraine. (Image: Getty)

Wed, 23 Feb 2022

New Zealand’s central bank today increased the official cash rate to 1% and signalled it would likely climb to 3.5% in the next three years.This pushed government bond yields to a six-year high and the kiwi dollar up half a US cent to 67.76 cents – the highest exchange rate since mid-January.Local equities held their own, with investors buying up stocks ahead of a wave of earnings reports due in the morning.The S&P/NZX 50 Index rose 20 points, or 0.2%, to 12,134.42. Turnover was moderate at $142 million.This bucked the global tr...

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