NZ50 rises on light volumes as inflation data is released

Consumer inflation and the Reserve Bank's next move were on investors' minds. (Image: Getty)

Wed, 19 Jul 2023

The New Zealand sharemarket made a small gain on further evidence that inflation is falling, but investors are wary that another official cash rate rise is on the cards by the end of the year.The S&P/NZX 50 Index traded in a narrow range of 11,932.81 and 11,972.41 and closed at 11,944.54 – up 11.73 points or 0.1%.There were 80 gainers and 48 decliners on the main board, but investors remained on the sideline with just 20 million shares worth $75.35m changing hands.Annual inflation is now running at 6%, down from 6.7% at the end of Mar...

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