RBNZ's money-printing losses shrank in November

Wed, 14 Dec 2022

Rallying bond markets have delivered the Reserve Bank a reprieve from headlines saying its money-printing losses were mounting.By Nov 30, those losses on the $55 billion large-scale asset purchase (LSAP) programme had eased to $8.67b compared with $9.21b at Oct 31 and the peak of $9.49b at Sept 30.The LSAP had involved the RBNZ buying government and semi-government bonds back from the market.Yields on New Zealand 10-year government bonds fell to 4.07% at Nov 30 from 4.19% at Oct 31 and 4.3% at Sept 30 – as yields fall, the value of the bo...

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