Monday's Chorus: 'End cheap RBNZ loans to banks'

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Monday's Chorus: 'End cheap RBNZ loans to banks'

Rodney Jones calls on Reserve Bank to shut down Funding for Lending Programme of cheap loans to banks; 'Ferocious' Covid outbreak in Beijing; Threats to PM's life escalate

Bernard Hickey

Jun 12, 2022

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TLDR: Independent economist Rodney Jones has called on the Reserve Bank to stop lending cheaply to banks through the Covid-era Funding for Lending Programme, which has almost quadrupled to $12.2b since the end of money printing to buy bonds in July last year.

The RBNZ’s FLP programme has funded a third of the bank lending done since December last year. P…

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