Dawn chorus: RBNZ expands bond buying
Weekly bond buying programme increased to $630m from previous weekly buying pace of $570m, indicating Reserve Bank has started pushing back against higher long term market rates
TLDR: Finally, the Reserve Bank has started to push back against the sharp tightening in monetary conditions in wholesale financial markets in recent weeks. Late on Friday afternoon it increased its plan for bond-buying to $630m this week from $570m last week. But it didn’t get much traction and may have to print and buy a lot more.
The trouble is the G…
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