Market close: NZ sharemarket pares losses as Reserve Bank lifts OCR to 2.5%

PremiumUpdatedBusinessDesk8 Jul, 2026 06:20 AM5 mins to readDr Anna Breman said today the Reserve Bank was raising the Official Cash Rate by 25 basis points. Photo / Mark Mitchel

The New Zealand sharemarket cut its losses after the Reserve Bank increased the Official Cash Rate by 25 basis points to tackle persistent inflation.

The S&P/NZX 50 Index fell to an intraday low of 13,614.13, down more than 1%. But the index jumped before the Reserve

hiked the Official Cash Rate (OCR) to 2.5% and closed at 13,665.18, down 97.61 points or 0.71%.