Budget 2020

BUDGET 2020: $60b bond programme needs private sector to step up

Rebecca Howard
Mon, 18 May 2020

Finance Minister Grant Robertson's plan to borrow $60 billion in the 2021 fiscal year needs private investors to come to the party if it's going to be able to fund its huge covid-19 response.    The government's debt programme has been supported by the Reserve Bank's quantitative easing policy; both last week seeing enormous expansion. Although the fiscal and monetary policymakers' headline figures match at $60 billion, the Reserve Bank has already bought $11 billion of central and local government bonds, which means private investors will n...

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