The Markets

Australian rate cut fuels NZ shares

Tuesday 3rd of November 2020

The S&P/NZX 50 Index rose 59.48 points, or 0.5 percent, to 12,130.31. Within the index, 29 stocks rose, 16 fell and five were unchanged. Turnover was $133 million.

The Reserve Bank of Australia cut the cash rate to a record low 0.1 percent and committed to a A$100 billion bond buying programme to keep interest rates low and assist the recovery of the Australian economy.

The...

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