Dawn chorus: RBNZ tapering QE
Bond buying down to $570m this week from $800m per week before Christmas; Labour to legislate to block local revolts against Maori wards, although it didn't include it in its manifesto
TLDR: The Reserve Bank is quietly tightening monetary policy before its February 24 Monetary Policy Statement by buying fewer bonds per week and allowing longer term interest rates to rise a bit as our economy improves and vaccine rollouts begin overseas.
Meanwhile, politicians in Australia, Britain and America have started talking again about a return t…
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