NZ shares jump on Russia/Ukraine peace talks

(Image: Getty)

Thu, 17 Mar 2022

New Zealand's headline share index climbed in unison with US markets after the Federal Reserve delivered a widely expected interest rate hike and peace talks between Russia and Ukraine made progress.The S&P/NZX 50 Index rose 125 points, or 1%, to 11,998.96. Turnover was $213 million.The US Federal Reserve lifted cash rates for the first time since 2018, boosting them just 25-basis points overnight, as widely expected by the market.The central bank governors predicted US cash rates to be near 2% by the end of the year, likely meaning six...

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