RBNZ maintains cash rate, LSAP unchanged

Author: Eamonn Sheridan | Category: Central Banks

Reserve Bank of New Zealand 23 September 2020 monetary policy announcement 

  • leaves the OCR unchanged at 0.25%
  • maintains their Large Scale Asset Purchase program (LSAP, i.e. QE) at NZD100 bn
Say that
  • Alternative tools can be deployed independently 
  • Additional tools include negative OCR
Link to the RBNZ is here for more: Prolonged Monetary Support Necessary

More (Headlines via Reuters) 

  •  says additional monetary instruments include negative OCR, purchases of foreign assets
  • agreed that the alternative instruments can be deployed independently
  • funding for lending programme would be ready before the end of this calendar year
  • ongoing virus-led activity restrictions continued to dampen economic activity, and business and consumer confidence
  • commodity prices for new zealand's exports remain robust, but this has been partly offset by the NZD rate

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