A saga of incomprehension

A saga of incomprehension
How I got lost in a sea of confusion about money printing losses. (Image: Pixabay)
Jenny Ruth
When Treasury made public a memo estimating the direct fiscal loss to the government from the Reserve Bank of New Zealand’s large-scale asset programme (LSAP) is about $10.5 billion, I assumed that was on top of the mark-to-market losses on the LSAP bonds themselves.I was wrong, though neither I nor my colleagues can figure out why or how these two losses on two separate piles of money are supposed to be counting the same thing.The Treasury memo said its $10.5b estimate reflects the fact that the Reserve Bank of NZ (RBNZ) had bought back...

More Finance

Grenon seeks to end ‘futile’ NZME board stoush
Finance

Grenon seeks to end ‘futile’ NZME board stoush

It's time for the current board to fold 'em, says coup orchestrator. 

Pattrick Smellie 26 Mar 2025
Wow. It’s all basketball!
Finance

Wow. It’s all basketball!

US investment in basketball is lapping at our shores in more ways than one.

Pattrick Smellie 25 Mar 2025
FMA files criminal charges against David McEwen
Finance

FMA files criminal charges against David McEwen

New Zealand’s financial watchdog has filed criminal charges against former financial adviser David McEwen for allegedly failing to comply with a stop order, which prevented him from contacting potential investors.The Financial Markets Authority (FMA) had made a permanent stop ord...

Staff reporters 18 Mar 2025
FNZ employee shareholders revolt over latest capital raise
Finance Exclusive

FNZ employee shareholders revolt over latest capital raise

Long-standing employees believe new raise halves their holdings.

Victoria Young 14 Mar 2025