RBNZ rate call gives NZ stocks a boost

(Image: Getty)

Wed, 28 Feb 2024

The Reserve Bank of New Zealand’s decision to keep its official cash rate on hold while also signalling a slightly lower interest rate track gave NZ stocks a boost at the end of what has been a disappointing reporting season.The S&P/NZX50 index ended at 11,763.32, up 68.71 points or 0.59%. There were 96 gainers and 42 decliners on volume of 43.5 million shares worth $135.6m.The Reserve Bank of NZ (RBNZ) kept the official cash rate (OCR) at 5.5%, as expected, but it softened its stance slightly, with new forecasts suggesting the rate m...

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