The NZX 50 fell 80 points, or 0.6%, to 12,891 in early trading on Tuesday, halting gains from the previous four sessions and retreating from its highest level since February, reached the day before. The decline was mainly driven by healthcare, energy, and industrials. Traders were cautious ahead of the RBNZ’s monetary policy meeting on Wednesday. The central bank is expected to cut the interest rate by 25 bps to 3%, after pausing in July amid a weak domestic economy and high unemployment. Traders also anticipated the interest rate decision in China, amid further weak domestic demand. Caution also prevailed ahead of the release of the Fed's July meeting minutes and Fed Chair Powell's keynote speech at Jackson Hole later this week, which could guide the central bank’s monetary policy trajectory. On the data front, PPI in New Zealand rose by 0.6% in Q2, softer than Q1 and below expectations. Among early losers were Infratil (-2.5%), Fisher & Paykel (-1.8%), and Contact Energy (-1.4%).