NZ market flat as RBNZ keeps OCR at 5.5%

The S&P/NZX 50 Index was flat at 1,1235.05. (Image: Getty)

Wed, 04 Oct 2023

Neither New Zealand’s benchmark index nor economists were surprised by the fact there was no change made to the official cash rate by the Reserve Bank of New Zealand on Wednesday. The S&P/NZX 50 Index was flat at 1,1235.05. Turnover was $108.1 million. There were 38 gainers and 85 decliners on the main board.Paul Robertshawe, chief investment officer with Octagon Asset Management, said the market had expected the non-move out of the RBNZ as most economists had predicted the central bank wouldn’t move the cash-rate dial bef...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

Kiwi Property Group's interim profit lower as write-downs bite

The property company reiterates its full-year dividend views.

Andy Macdonald 2:37pm

Economy

Penk announces compulsory building warranties

Under the proposed change, those responsible pay their share only.

Staff reporters 12:20pm

Penk announces compulsory building warranties

Markets

Gentrack in the hunt for 10 new customers

Shares climb more than 14% on hopes of at least three or four new customers.

Rebecca Stevenson 12:20pm

Gentrack in the hunt for 10 new customers

Sponsored

Spark Accelerate: Are you ready for exponential AI growth?

Spark

Sponsored

Cybersecurity skills gap leaving Kiwi businesses at risk - report

A cybersecurity skills shortage is creating additional cyber risks, according to a new global report.

Fortinet

More Markets

Economy

Kiwi Property Group's interim profit lower as write-downs bite

The property company reiterates its full-year dividend views.

Andy Macdonald 2:37pm

Markets

Gentrack in the hunt for 10 new customers

Shares climb more than 14% on hopes of at least three or four new customers.

Rebecca Stevenson 12:20pm

Markets

Another solar farm gets the nod from Genesis

Genesis Energy has approved the construction of the Edgecumbe Solar Farm in the Bay of Plenty, marking its second major solar commitment in as many months.The company made a final investment decision (FID) on the 136 megawatt peak (MWp) farm, clearing the way for work to begin sh...

Ian Llewellyn 9:40am

Markets

NZ’s Mighty Ape still weighing on ASX parent Kogan

Management expects Mighty Ape to return to profitability in the second half of FY26.

John Anthony 5:00am

NZ market flat as RBNZ keeps OCR at 5.5%

More Markets

Your company has a subscription

Team