WELLINGTON: New Zealand’s central bank surprised markets by expanding its bond-buying programme and warned that policy rates might have to go below zero to revive the coronavirus-battered economy as the country was plunged back into lockdown.
The Reserve Bank of New Zealand expanded its large scale asset purchase (LSAP) programme to as much as NZ$100bil (US$65.39bil), from NZ$60bil previously, and extended the deadline for purchases out to mid-2022. It left interest rates at an all-time low of 0.25%, as widely expected.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
