This via ANZ on the Reserve Bank of New Zealand today:

  • RBNZ today increased their quantitative easing (LSAP) programme to $100bn and extended its length from 12 to 22 months. 
  • As regards potential alternative policy options beyond the LSAP, the RBNZ expressed a preference for a lower or negative OCR and a 'Funding for Lending Programme', while leaving all options on the table. 
  • The OCR will remain unchanged at 0.25% until March 2021 but the odds of lower rates beyond that have risen. 
  • It is hard to imagine a more dovish set of policies and commentary today - yields and the NZD both fell in response.

(bolding is mine)

Earlier posts:

This via ANZ on the Reserve Bank of New Zealand  today: