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Large Scale Asset Purchases expanded
The Monetary Policy Committee has agreed to significantly expand the Large Scale Asset Purchase (LSAP) programme potential to $60 billion, up from the previous $33 billion limit. The LSAP programme includes NZ Government Bonds, Local Government Funding Agency Bonds and, now, NZ Government Inflation-Indexed Bonds. The global economic disruption caused by the COVID-19 pandemic is expected to persist and lead to lower economic growth, employment, and inflation both in New Zealand and abroad. Even if New Zealand successfully contains the spread of disease locally, reduced world activity will mean lower demand for many of ... (full story)
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Whoa. RBNZ said that a negative OCR will become an option in the future
— Dimitri Zabelin (@ZabelinDimitri) May 13, 2020
- BBG#NZD
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#RBNZ:
— DailyFX Team Live (@DailyFXTeam) May 13, 2020
- Expanding LSAP program is the most effective stimulus
- Anticipating to see retail interest rates decline further
- Prepared to provide fixed term loans to bank if necessary
- QE expansion is aimed at cutting borrowing costs quickly and sharply
- BBG #NZD
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