NZ market flat as RBNZ keeps OCR at 5.5%

The S&P/NZX 50 Index was flat at 1,1235.05. (Image: Getty)

Wed, 04 Oct 2023

Neither New Zealand’s benchmark index nor economists were surprised by the fact there was no change made to the official cash rate by the Reserve Bank of New Zealand on Wednesday. The S&P/NZX 50 Index was flat at 1,1235.05. Turnover was $108.1 million. There were 38 gainers and 85 decliners on the main board.Paul Robertshawe, chief investment officer with Octagon Asset Management, said the market had expected the non-move out of the RBNZ as most economists had predicted the central bank wouldn’t move the cash-rate dial bef...

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