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Shares up as RBNZ defers rate hike

Dan Brunskill
Wed, 18 Aug 2021

Dan Brunskill
Wed, 18 Aug 2021
New Zealand shares rose this afternoon as investors welcomed an extra six weeks of low interest rates with the Reserve Bank leaving monetary policy settings on hold.The S&P/NZX 50 Index rose 83.56 points, or 0.7%, to 12,718.88. Turnover was high at $302.8 million.The benchmark index had already been trading higher but jumped another 30 points after the central bank’s 2pm announcement.  Market interest rates dropped on the news but quickly recovered and were trading higher by later afternoon, as traders digested the bank’s c...

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