Hopes inflation tamed in Aust raises NZ sharemarket
The S&P/NZX 50 Index was trading at an intraday low of 11,930 points when it was announced that inflation across the Tasman was running at 6%, the same as NZ’s, and down from 7% in the previous quarter.
The index closed 20.86 points or 0.17% ahead at 11,954.73, but investors are still hanging back. Trading volumes remain light, with 21.34 million shares worth $73.97m changing hands, and there were 76 gainers and 51 decliners over the whole market.
Economists in Australia expected an annual inflation rate of 6.2% and were now saying their Reserve Bank will likely extend its interest rate pause next week.
The Australian consumer price index increased 0.8% for the June quarter - its lowest rise since September 2021 and easing from 1.4% in the previous three months.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
