Reserve Bank's money-printing losses continue to mount

Reserve Bank assistant governor Karen Silk wants to address “commentary and confusion” about the role settlement cash plays in the economy. (Image: RBNZ)

Jenny Ruth

Fri, 14 Oct 2022

The reserve bank’s money-printing programme has now cost taxpayers $9.49 billion.That’s the amount, covered by a government indemnity, that the Reserve Bank of New Zealand (RBNZ) has lost on its large-scale asset purchase (LSAP) programme as at Sept 30, up from $9.08b at the end of August, the latest data shows.The Reserve Bank spent more than $55b on the LSAP between March 2020 and July 2021, buying government bonds from the market to inject that money into the economy.As interest rates rise, those bonds are worth less, hence the m...

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