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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Background to this:
RBNZ Governor Orr:
