Responses to the RBNZ coming in - "hard to imagine a more dovish set of policies"

Author: Eamonn Sheridan | Category: Central Banks

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:
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