RBNZ: liquidity measures limited crisis damage

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A paper published in the Reserve Bank of New Zealand's Bulletin on Thursday says emergency measures adopted by the central bank during the recent financial crisis helped to limit broader disruptions to the economy.

Enzo Cassino and Aidan Yao, the paper's authors, examine steps taken by the central bank to alleviate market stress and maintain market functioning during the financial crisis. The authors note New Zealand's money market was an important source of short-term funding significantly

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