Market close: Reserve Bank rate cut lifts NZ sharemarket as high‑yield stocks climb

Market close: Reserve Bank rate cut lifts NZ sharemarket as high‑yield stocks climb

The New Zealand sharemarket rose on Wednesday, driven by high-yielding companies after the Reserve Bank’s 50-basis-point cut to the Official Cash Rate. The...

RBNZ forced to clean up Luxon’s economic mess – Labour

The Reserve Bank’s decision to cut interest rates is a direct response to the economic damage caused by Christopher Luxon’s mismanagement.   “Today’s OCR cut is good news for mortgage holders – but it’s also the Reserve Bank fixing the damage Christopher Luxon has done,” Labour finance and economy spokesperson Barbara Edmonds said.   “New Zealand’s economy is in crisis – and it’s Christopher Luxon’s fault. Businesses are closing in record number…

NZD tumbles on surprise 50bpt rate cut – Scotiabank

The US Dollar’s (USD) gains are extending into Wednesday’s NA session with broad strength against all of the G10 currencies. NZD is underperforming, down 0.6% on the back of an unexpectedly large RBNZ rate cut, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.