FX.co ★ New Zealand Stocks Rise for 2nd Session

The S&P/NZX 50 index rose by 0.4%, closing at 12,119 on Thursday, marking the second consecutive day of gains and registering a weekly increase of 0.8%. This uplift mirrored modest gains among Asian markets as investors focused on the forthcoming U.S.-Japan trade discussions. Domestically, New Zealand's annual inflation rate increased to 2.5% in the first quarter, slightly exceeding market expectations of 2.3% and up from 2.2% in the previous quarter. Despite this rise, the rate remains within the Reserve Bank of New Zealand's target range of 1–3%, suggesting it is unlikely to deter further interest rate cuts. The market is still fully anticipating that the RBNZ will reduce its current cash rate of 3.5% by 25 basis points in May and again to 2.75% by October. Among major stocks, Infratil rose by 2.2%, Spark NZ decreased by 1.9%, and A2 Milk increased by 1.95%. Please note that New Zealand markets will be closed on Friday and the following Monday in observance of the Easter holiday.