ANZ Bank said the peak in the official cash rate will now be 100 basis points higher than it expected, hitting 3% by April 2023, as inflation ramps up and the labour market remains tight.

New Zealand shares fell sharply, and bond yields surged to multi-year highs after ANZ Bank predicted the Reserve Bank would hike the official cash rate all the way to 3%.

New Zealand shares finished the day virtually unchanged with little volume traded through the market, but IkeGPS jumped 8.2% after extending a customer contract.

New Zealand shares edged higher in very light trading with US markets closed until Tuesday night for Martin Luther King Day.

New Zealand shares finished their first full week of trading down approximately 1.5% as US markets got the jitters over the prospect of interest rate hikes as soon as March.

New Zealand shares moved marginally higher as US inflation data matched expectations and Serko bounced back from a harsh sell-off.

New Zealand shares fell marginally as an overnight bounce on Wall Street failed to buoy the local index, which was again led lower by riskier stocks.

New Zealand shares fell for a third consecutive session as international investors continue to sell risk assets in the expectation the US central bank will soon tighten monetary policy.

New Zealand shares finished the day little changed after being caught up in a global sell-off yesterday when traders interpreted the US Federal Reserve’s meeting minutes as being hawkish.

New Zealand shares tumbled with Wall Street indices after United States Federal Reserve meeting minutes suggested the central bank might need to raise rates sooner than expected.

Infrastructure investment firm Infratil led the benchmark equity index higher in the first trading day of the year after one of its key assets had its valuation boosted 15%.

The New Zealand stock market slipped 0.4% in 2021, ending a nine-year positive streak as future earnings look to be increasingly in doubt.

The New Zealand dollar and the local stock market pushed higher in light trading on the second to last trading day for 2021.

A strong trading update for Michael Hill International provided some post-Christmas cheer as investors returned from the holiday break in a positive mood.

Z Energy shares slid after the Commerce Commission reiterated concerns about Ampol’s $2 billion takeover of the company.

New Zealand’s sharemarket is petering out in the run-up to the Christmas break and faces its first negative year in a decade as investors continue to grapple with the latest twists and turns of the covid-19 pandemic.