New Zealand shares slip after RBNZ's first hike in 3 years! The Reserve Bank of New Zealand raised its benchmark rate by 25 basis points to 2.50% to tackle sticky inflation underpinned by rising domestic prices. #NZX50 fell by over 1% before recovering slightly at end of day to -0.71% 13,762.78-13,617.76=145.02/13,762.68=0.0105*100=1.05% This is immediately after hitting all time intraday high of 13,827.94, currently sitting -1.18% from ATH. Just like the comparisons that I made in comments, the ATH is quite lackluster when compared to inflation and currency weakness. The age of cheap cash credit is slipping away. As they say the solution to expensive prices is also expensive prices through higher interest rates. Finance, banking, communications & infrastructure held up the best during defensive Kiwi rotation.