Does the RBNZ need to ramp up the printing press? Maybe not

Mon, 27 Jul 2020

The Reserve Bank held its large-scale asset purchase programme steady at $60 billion in June and said it could print more money if necessary. But is it? A much better-than-expected bounce in the domestic economy may mean it doesn’t have to ramp up the press just yet, although the labour market remains a wildcard. There are a few reasons it may hold fire at the Aug. 12 review. One: the government isn’t spending as much as it planned, keeping $14 billion of the country’s $50 billion covid-19 recovery fund in its back pocket, just in cas...

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