New Zealand's central bank delivered a 75 basis point hike. That is the biggest rate hike ever in the central bank history. The New Zealand's exchange is down 0.85% and the Australian ASX200 is up 0.7%, despite the Reserve Bank of Australia governor Philip Lowe on Tuesday hinting at more rate hikes ahead.

For more on this, we spoke to Naeem Aslam, who is the chief market analyst at AvaTrade.

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