NZ market in waiting mode as investors wait for central banks' decisions

The S&P/NZX 50 index fell 66.5 points, or 0.6%, to 11,967.72. Across the main board, 82 stocks fell and 51 rose. Turnover was $154 million.

Craigs Investment Partners’ Peter McIntyre said the NZX 50 had risen 4.9% in January so far – making it the strongest monthly gain NZ’s market had seen since August 2021.

Central banks are in the spotlight this week as monetary policy decisions come out from the US Federal Reserve, European Central Bank, and Bank of England. 

“The market has made up its mind that a 25 basis point hike is a go in the States,” he said.