NZ sharemarket dips as interest rates cut

Despite the dovish outlook from the Reserve Bank, the market fell. (Image: Getty)

Wed, 19 Feb 2025

The New Zealand sharemarket ended slightly weaker despite investors taking comfort from the Reserve Bank’s 50-basis-point cut in its official cash rate and the prospects of still lower rates later this year.The S&P/NZX 50 Index closed at 13,033.36, down 17.76 points or 0.14%.There were 73 gainers and 56 decliners over the whole market, with 37.4 million shares worth $166.7m changing hands.The Reserve Bank of NZ’s (RBNZ) cut to 3.75% came as no surprise to the market as it was well anticipated, but the big news was in the bank&rs...

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