Banks are welcoming further moves by the Reserve Bank this morning to stimulate the economy
Banks are welcoming further moves by the Reserve Bank this morning to stimulate the economy
23 March 2020
The Government's given permission for the central bank to buy 30-billion dollars worth of government bonds over the next 12 months.
It's hoped this will lower costs for businesses and mortgage holders ... and boost the economy.
NZ Herald's Wellington business editor Hamish Rutherford says the move was anticipated - but to a smaller degree.
He says it's a far larger amount than was expected, and ANZ says it expects this will have an immediate impact on borrowing, and bringing down borrowing costs.
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