NZ market perks up as Australia's central bank holds rates

(Image: Supplied)

Tue, 04 Apr 2023

The New Zealand sharemarket perked up with a half percent gain after the Australian Reserve Bank boldly paused interest rate rises – and now all eyes are on the NZ counterpart. The S&P/NZX 50 Index was trading flat before the Australian bank announced it was holding the cash rate at 3.6% after 10 consecutive rises from 0.1%. The index closed at the day’s high of 11,898.56, up 59.77 points or 0.5%, after touching a morning low of 11,783.52. There was a turnaround at lunchtime, as well as at the end of trading. There wer...

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