Stagflation fear sends NZ shares sliding

Stagflation fear sends NZ shares sliding
The RBNZ may double the official cash rate in the coming months. (Photo: Dan Brunskill)
Dan Brunskill
New Zealand shares tumbled on Tuesday as short-dated government bond yields hit new highs after ANZ Bank predicted the official cash rate could be doubled by May.The S&P/NZX 50 Index fell 168 points, or 1.4%, to 11,744.95. Turnover was $173 million.Sky-rocketing oil prices have prompted ANZ’s chief economist, Sharon Zollner, to forecast a 50-basis point interest rate increase in both April and May this year.This would mean the Reserve Bank of NZ would double the official cash rate in just two months, something Zollner said was a &ldqu...

More Markets

NZ sharemarket rises with gentailers leading
Markets Market close

NZ sharemarket rises with gentailers leading

Electricity gentailers pumped energy into the NZX.

Tom Raynel 09 May 2025
Steven Joyce to chair NZME
Markets

Steven Joyce to chair NZME

Tech expert Bowen Pan will also join, later on. 

Staff reporters 09 May 2025
NZME set to take on Trade Me for car sales
Markets

NZME set to take on Trade Me for car sales

Publicly listed NZME, owner of the NZ Herald and BusinessDesk, says it is exploring a new automotive digital classifieds platform, in a clear bid to take on Trade Me.Seeking to emulate the success of its property platform OneRoof, NZME said on Friday it had signed a memorandum of...

Staff reporters 09 May 2025
Bremworth getting back into synthetics
Primary Sector

Bremworth getting back into synthetics

Albeit in a small, but carefully curated, number of products.

Riley Kennedy 09 May 2025