RBNZ's Hawkesby says Bank continues to monitor market developments very closely, stands ready to act further
Reserve Bank of New Zealand Assistant Governor Christian Hawkesby on the wires already to kick off the week
- Bank continues to monitor market developments very closely
- stands ready to act further to ensure markets and the financial system operate in a stable and efficient manner
- "We are committed to support smooth market functioning"
RBNZ is deploying another tool
- A new weekly Open Market Operation (OMO)
- will be held at 11am local time each Tuesday
- offer around 500m NZD for terms up to around 3 months
- will provide liquidity in exchange for eligible Corporate and Asset-Backed securitie
- facility would provide another channel for banks to continue funding their corporate clients.