The NZX 50 climbed 158 points, or 1.2% to close at 13,228 on Wednesday, hitting nearly a three-week high after the central bank kept interest rates unchanged for a third consecutive meeting. However, the decision revealed a more hawkish tone than anticipated, with policymakers evenly split on whether rates should be raised. The bank also signaled that rates may need to rise sooner and by a greater extent than expected, citing mounting inflation risks from higher energy prices. Markets increased bets on a July rate hike, with the odds of a 25-bp move rising to around 75%, while year-end rate expectations climbed to 3.0%. Meanwhile, sentiment remained supported by hopes of a breakthrough in ongoing US-Iran peace talks, despite recent US military action in Tehran. Healthcare stocks led the advance, with heavyweights Fisher & Paykel and Ryman up 2.3% and 3.6%, respectively. Infratil, an infrastructure investment company, also surged 5.8% after posting a net surplus for the fiscal year.