NZ share market climbs as US Federal Reserve hikes interest rates

US investors had already priced in the Fed raising rates. (Image: Getty)

Thu, 16 Jun 2022

New Zealand shares rose slightly on Thursday as investors bought back into risk assets after the Fed, the American central bank delivered a 75 basis-point rate increase.The S&P/NZX 50 Index rose 10.6 points, or 0.1%, to 10,646.58. Turnover was $114 million.Early this morning, the United States Federal Reserve pushed through the largest interest rate increase since 1994 and said it would continue to raise rates through next year.Market reaction to the dramatic announcement was modest but only because traders had predicted this outcome after...

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