NZ sharemarket falls nearly 0.5% at the start of a pivotal week
The S&P/NZX 50 Index declined steadily all day and then had a sharp rise in the last half hour broker matching session to close at 11,745.53, down 49.28 points or 0.42% after reaching an intraday low of 11,692.19.
There were 49 gainers and 73 decliners over the whole market on volumes of 29.39 million share transactions worth $120.05m.
On Wednesday, the Reserve Bank will make its monetary policy review, and the market will be looking for a timeline on interest rate deductions. The bank is expected to keep the official cash rate (OCR) at 5.5% in the meantime.
Jeremy Sullivan, investment adviser with Hamilton Hindin Greene, said the commentary, rather than the headline decision, will be most important.
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)
