NZ market lifts after surprise CPI data

The S&P/NZX 50 Index rose 29.3 points, or 0.26%, to 11,214.37. (Image: Getty)

Tue, 17 Oct 2023

New Zealand’s benchmark index edged up after consumer price index (CPI) data came in lower than most economists and the country’s central bank forecast.The S&P/NZX 50 Index rose 29.3 points, or 0.26%, to 11,214.37. Turnover was $119.7 million. There were 66 gainers and 49 decliners on the main board.The likelihood of the Reserve Bank of New Zealand (RBNZ) raising interest rates in November decreased significantly, falling from about 34% to just 10%, following the release of Tuesday's consumer price index (CPI) data. The...

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