RBNZ expects low FLP draw down

Thu, 26 Nov 2020

The Reserve Bank doesn't expect its near $28 billion funding-for-lending programme will be drawn on that much and expects most of its impact will be indirect."We don't know how much it will be drawn. We suspect it won't be drawn very much, actually," deputy governor Geoff Bascand told BusinessDesk.Nevertheless, the central bank does expect the programme to have a significant impact on interest rates because banks won't have to compete as much for term deposits or wholesale funding."The bigger the sum that's av...

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