新西兰基准标准普尔/新西兰50指数周三收于11807点，下跌0.7%，反映出全球主要指数的下跌，因为人们担心贸易战加剧可能导致全球经济衰退。唐纳德·特朗普总统的全面关税今天生效，包括对新西兰最大的出口市场中国征收104%的巨额关税。在国内，由于通货膨胀稳步下降和国内经济状况疲软，新西兰储备银行将其官方现金利率下调25个基点至3.5%，正如普遍预期的那样。新西兰储备银行还警告称，全球贸易壁垒对当地经济构成下行风险。该指数几乎所有板块均以下跌收盘。在大盘股中，斐雪派克（-1.6%）、Infratil（-16.6%）、Mercury NZ（-1.4%）和Spark NZ（-17%）均出现显著下跌。其他主要下跌股包括陶朗加港（-2.6%）、弗莱彻大厦（-1.3%）和萨默塞特集团（-1.8%）。

New Zealand's benchmark S&P/NZX 50 index closed 0.7% lower at 11,807 on Wednesday, mirroring declines in major global indexes amid worries that an intensifying trade war could lead to a global recession. President Donald Trump’s sweeping tariffs took effect today, including massive 104% duties on China—New Zealand’s biggest export market. Domestically, the Reserve Bank of New Zealand cut its official cash rate by 25bps to 3.5% as widely expected, amid a steady decline in inflation and weakening domestic economic conditions. The RBNZ also cautioned about downside risks to the local economy from global trade barriers. Nearly all sectors on the index finished in the red. Among large-cap stocks, notable losses were seen from Fisher & Paykel (-1.6%), Infratil (-1.6%), Mercury NZ (-1.4%), and Spark NZ (-1.7%). Other key decliners included Port of Tauranga (-2.6%), Fletcher Building (-1.3%), and Summerset Group (-1.8%).

新西兰联储鸽派降息引发新西兰元广泛抛售。新西兰储备银行大幅降息，并暗示将有更多降息措施出台。这让交易员大为恐慌，导致新西兰元兑其他主要货币下跌。

RBNZ's Dovish Cut Sparks Broad NZD Selloff.RBNZ slashed rates and dropped hints about even more cuts coming down the pipeline. This spooked traders big time, sending NZD lower against the other majors.

随着关税的临近，新西兰储备银行降息，经济学家预计将有更多刺激措施。正如普遍预期的那样，新西兰央行周三下调了基准利率，这表明随着经济面临需求疲软和贸易壁垒的不利影响，新西兰央行更愿意进一步降低借贷成本。

RBNZ cuts rates as tariffs loom, economists expect more stimulus.New Zealand's central bank cut its benchmark rate on Wednesday, as widely expected, signalling a greater readiness to lower borrowing costs further as the economy faces headwinds from weak demand and trade barriers.

第一印象：新西兰储备银行货币政策回顾。新西兰储备银行在4月份公布了预期的25个基点的OCR降息，并保持了宽松的倾向。与会者注意到与全球发展相关的风险，但总体基调并不意味着有过度的恐慌感。

First Impressions: RBNZ Monetary Policy Review.The RBNZ delivered the expected 25bp OCR cut in April and maintained an easing bias. Risks related to global developments were noted, but the overall tone didn't suggest a sense of undue alarm.