RBNZ to buy $30b of govt bonds in latest economic support

RBNZ to buy $30b of govt bonds in latest economic support
Rebecca Howard
The Reserve Bank will move to the next, unprecedented stage of emergency support for the New Zealand economy in response to the covid-19 virus global crisis, committing to buy $30 billion of government bonds over the next 12 months.The central bank had promised that its next move would be quantitative easing - a way of pumping new money into the economy by buying debt from the government - after cutting the official cash rate to a historic low of 0.25 percent just a week ago.“The negative economic implications of the coronavirus outbreak have c...

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