Volatility remained relatively high over September as slowing growth in China and uncertainty around the timing of interest rate hikes in the US continued to impact markets. The New Zealand share market fell over the month although not to the same extent as its global counterparts. Global bonds rallied over the month, coming on the back of investors’ flight to safety as equity markets around the world tumbled. As was widely anticipated, the Reserve Bank of New Zealand cut the Official Cash Rate for the third consecutive time, reflecting its negative outlook on the domestic economy. The New Zealand dollar reversed its recent trend and closed higher against the Trade Weighted Index.
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