NZ market flattens as investors mull on data
The S&P/NZX 50 Index edged up 7.1 points, or 0.06%, to 11,221.48. Turnover was $85.8 million. There were 62 gainers and 57 decliners on the main board.
Chief investment officer Paul Robertshawe at Octagon Asset Management said Tuesday’s CPI data had been a “positive surprise”.
“It was good news, but I'm not sure we're out of the woods yet in terms of when people might be starting to price rate cuts because inflation is really falling,” he said.
Yesterday’s new CPI data revealed a decrease in annual inflation to 5.6% during the September quarter, and a reduction in the official cash rate is now expected in February 2025, a few months ahead of previous expectations.
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