Dawn chorus: Govt not borrowing enough
RBNZ forced to scale back bond buying as Govt borrowing dries up; Monetary policy load falls on further lowering mortgage rates via cheap RBNZ loans to banks; Carter Holt stops supplying timber to ITM
TLDR: The Reserve Bank announced a $200m reduction in its plan for money-printing and bond-buying this week to $430m late on Friday as the Government’s own borrowing programme slows sharply because of improving Crown finances. Essentially, the Government is not borrowing enough for the Reserve Bank to keep using quantitative easing at the pace it needs …
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