RBNZ money printing: nearly $20b in losses?

RBNZ money printing: nearly $20b in losses?
The Reserve Bank printed about $55b during covid plus lending banks $19b of cheap money. (Image: Getty)
Jenny Ruth
Note to readers: The Treasury and Reserve Bank of NZ have provided explanations for why it is wrong, and BusinessDesk accepts it is wrong, without accepting the explanations, to add the mark-to-market losses on the LSAP bonds to the difference between the bond coupons and the amount of interest RBNZ pays on settlement cash. Jenny Ruth’s Monday column explores this issue in depth.Treasury estimates the direct fiscal loss to the government from the Reserve Bank’s covid-era large-scale asset programme (LSAP) is about $10.5 billion.And...

More Finance

Unity Credit Union inks deal with Aus card payments company
Finance

Unity Credit Union inks deal with Aus card payments company

The deal with Change Financial, worth A$9m, will give customers modern payment options.

Staff reporters 30 May 2024
What will Budget 2024 reveal for social investment?
Finance

Adithi Pandit: What will Budget 2024 reveal for social investment?

Everyone loves the idea of social investment – but it needs defining. 

Adithi Pandit 29 May 2024
DTIs here by July - Reserve Bank
Finance

DTIs here by July - Reserve Bank

New loan restrictions are likely to limit home lending during boom times.

Staff reporters 28 May 2024
What the budget will mean for inflation battle
Finance

Cameron Bagrie: What the budget will mean for inflation battle

A few boxes are yet to be ticked before the government can relax. 

Cameron Bagrie 27 May 2024