England and New Zealand have been deducted three World Test Championship points for slow over rates during their series opener in Christchurch.

Both teams were also fined 15 per cent of their match fees for the offence.

Although England cannot reach next year's final at Lord's despite their eight-wicket win at Hagley Oval, the penalty dropped New Zealand from joint fourth to fifth, a major blow to their chances of reaching next year's showpiece game.

India and South Africa are currently in position to contest the final with Australia in third.

"New Zealand and England were both found to have three overs short of the target after time allowances were taken into consideration, with sides penalised one point for each over they were found to be short," said the International Cricket Council (ICC).

"Both captains - Tom Latham of New Zealand and Ben Stokes of England - pleaded guilty to the offence and accepted the proposed sanction, so there was no need for a formal hearing."

The ICC said on-field umpires Ahsan Raza and Rod Tucker, third umpire Adrian Holdstock and fourth official Kim Cotton had levelled the charges.

David Boon, of the ICC elite panel of match referees, imposed the sanctions.

England have now been docked 22 points for slow over rates in this cycle, more than twice the next most penalised team, Australia, but they have also played 20 Tests, seven more than the next highest, Australia's 13.

It was the Black Caps' first offence.

New Zealand, the inaugural World Test Championship winners, need to win the next two matches against England and favourable outcomes from other games if they are to reach next year's final.

The second Test starts in Wellington on Friday.

with Reuters