Why the RBNZ's bond-buying programme is an albatross

The Reserve Bank's LSAP is a difficult-to-deal-with albatross. (Image: Getty)

Mon, 22 Nov 2021

In the dark days of the covid-19 pandemic's onslaught in March last year, it was obvious the government and its agencies, such as the Reserve Bank, were making policy on the hoof.They had no choice, such was the suddenness of the pandemic and the drastic measures taken to protect the country. Some of the measures taken would surely work and others would inevitably prove to have been mistakes.For example, the 12-week wage subsidy provided when the first lockdown started was an effective, if not the most effective, policy because it kept...

Subscribe to BusinessDesk

Unlock access to all stories with this special annual deal for just $99. Sale ends Monday 25 November 2024 11.59pm.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Subscription renews at $349. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

On the Money

On the Money: Boats, Bangkok, & Birkin

John Key remembered in Thailand, a notable superyacht holed up in Auckland, and more.

Dileepa Fonseka 16 Nov 2024

Opinion

Simon Robertson: Relationships rule the world

If you are not listening to podcasts, start.

Simon Robertson 16 Nov 2024

Fail File

Fail File: Nicola Taylor, Tax Traders and Taxi co-founder

"I know that I am deeply loved exactly as I am."

Victoria Carter 16 Nov 2024

Fail File: Nicola Taylor, Tax Traders and Taxi co-founder

Sponsored

Culture strengthens Māori business

Collaboration and culture offer strength in turbulent times.

BDO

Sponsored

Why large format retail may be about to have a moment

LFR offers regular returns with strong tenants and long leases.

PMG

More Finance

Finance

RBNZ targeted for uncompetitive banking

Onerous regulation may be making banking uncompetitive, submitters argued.

Pattrick Smellie 14 Nov 2024

Finance

New PPP ‘blueprint’ launched

The Government is releasing a “refreshed blueprint” on the use of public-private partnerships to deliver infrastructure projects.Infrastructure Minister Chris Bishop said this followed extensive engagement by the Infrastructure Commission with Treasury, other public sector agenci...

Staff reporters 13 Nov 2024