NZ shares jump on slow rate hikes

Thu, 03 Mar 2022

New Zealand shares rallied with global equity markets after the chair of the US Federal Reserve said he supported raising interest more slowly because of the Ukraine crisis. The S&P/NZX 50 Index rose 122 points, or 1%, to 12,211.40. Turnover was $164 million.Tina Teng, an analyst at CMC Markets, said share markets in the US had a “relief rally” overnight after the US central bank said it will take a careful approach to raising interest rates during the geopolitical unrest.Chair Jerome Powell said the impact of the co...

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