NZ shares edge higher as interest rates ease
The S&P/NZX 50 Index rose 48.85 points, or 0.4%, to 12,566.50. Within the index, 15 stocks fell, 28 rose and seven were unchanged. Turnover was $395 million.
Financial markets around the world were fairly muted ahead of an important inflation indicator being released in the United States on Thursday night.
The consumer price index is expected to deliver a “monster of a result” with headline inflation at 4.7% and core inflation at 3.5%, said BNZ interest rate strategist Jason Wong.
Despite the risk of higher inflation pushing central banks to raise interest rates, both NZ’s bond yields and swap rates fell during the past 24 hours.
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