The S&P/NZX 50 index rose 1.1% to close at 13,071 on Wednesday, its highest level since February 19, after the Reserve Bank of New Zealand cut interest rates as expected and left the door open to further easing. The central bank slashed its official cash rate by 25bps to a three-year low of 3%, marking the seventh reduction in the current easing cycle as policymakers sought to revive a struggling economy and shield it against risks from US tariff policy. The RBNZ also revised down its projected floor for the OCR to 2.55% from 2.85% in its May forecast, prompting markets to price in two additional rate cuts in October and November. Shares of some of NZ's largest companies gained, including Fisher $ Paykel (+1.9%), Meridian Energy (+2.3%), Auckland Intl Airport (+2.4%), and Contact Energy. Spark NZ and Fletcher Building also added 3.6% and 0.3%, respectively, despite reporting lower profits.