RBNZ's money-printing losses shrank in March

(Image: Getty)

Tue, 18 Apr 2023

The losses on the Reserve Bank of New Zealand’s large-scale asset programme (LSAP), colloquially known as money printing, shrank to $7.82 billion at the end of March, from $8.75b a month earlier, reflecting falling bond yields.The yield on generic NZ 10-year bonds fell from 4.56% at the end of February to 4.2% at the end of March – when bond yields fall, their value rises.The Reserve Bank's end-of-month losses on the LSAP peaked at $9.49b at the end of September last year.The central bank ran the LSAP between March 2020 and July...

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