RBNZ needs to remove money printing from its tool kit

RBNZ needs to remove money printing from its tool kit
The Reserve Bank should remove money printing from its tool kit. (Image: Getty)
Jenny Ruth
The Reserve Bank of New Zealand uncharacteristically admitted one mistake last Thursday, that monetary policy was too stimulatory “at some stage during the tumultuous economic period of the pandemic”.Maybe we should be thankful for small mercies, but with inflation running at nearly four times the midpoint of the Reserve Bank of NZ's (RBNZ) 1% to 3% target, this is little more than stating the bleeding obvious.In its “background paper” on the large-scale asset purchase programme (LSAP) and funding-for-lending program...

More Finance

ANZ admits 'unacceptable failure' as bond probe continues
Finance

ANZ admits 'unacceptable failure' as bond probe continues

Regulator is investigating the bank over its bond turnover data.

AAP 25 Jul 2024
ComCom will try to bring down PayWave, credit card surcharges
Finance

ComCom will try to bring down PayWave, credit card surcharges

Card industry tried to regulate itself, Govt has tried, now it is ComCom's turn.

Staff reporters 23 Jul 2024
Massive cyber outage cripples banks and other organisations worldwide
Finance

Massive cyber outage cripples banks and other organisations worldwide

A major cybersecurity outage has taken out computer-reliant services

Dileepa Fonseka 19 Jul 2024