Sharemarket has a muted response to Reserve Bank move

Sharemarket has a muted response to Reserve Bank move
The Reserve Bank's hold on interest rate rises failed to move markets today. (Image: Getty)
Graham Skellern
The New Zealand sharemarket had a muted response to the hold on the official cash rate, while technology company Eroad rejected a takeover offer.  As widely expected, the Reserve Bank of NZ (RBNZ) left the cash rate unchanged at 5.5% – for the first time since late 2021 - but warned it would likely need to stay there for some time.The S&P/NZX 50 Index stayed slow and steady on the announcement and closed at 11,908.27, down 1.53 points or 0.01%.There were 78 gainers and 46 decliners on the main board, with 33.19 million shares wor...

More Markets

SkyCity folds 6% as NZX 50 trades flat
Markets Market close

SkyCity folds 6% as NZX 50 trades flat

Infratil is staging an impressive comeback, Craigs' Mo Singh says.

Peace breaking out in NZME board coup
Markets

Peace breaking out in NZME board coup

Shareholders now face "an embarrassment of riches", says the biggest investor.

NZME backs Steven Joyce to rebuff Jim Grenon chair bid
Markets

NZME backs Steven Joyce to rebuff Jim Grenon chair bid

Shareholders could still elect a combination of new and old directors.