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Market Update: NZX Ends Flat
The S&P/NZX 50 closed almost flat on Tuesday after falling modestly around midday, following a speech by the RBNZ Assistant Governor Christian Hawkesby that amid uncertainty central banks globally tend to follow a smoothed path and keep their policy rate unchanged or move in 26 basis point increments. The country’s central bank will meet on October 6th to review its monetary stance. At the same time, traders anticipate the result of the US Fed policy meeting Wednesday. On the COVID-19 side, 14 new cases were reported in New Zealand today, as Prime Minister Jacinda Ardern issued an “ambitious but doable” vaccine challenge to Aucklanders ahead of the next decision on alert levels. Turning to data, consumer sentiment in the country fell to its lowst in a year in Q3, due to the national lockdown. PaySauce Limited gained 3.33% whileMetro Performance Glass shed 8.14%. [/s2If]
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