RBNZ agrees plan to reverse QE

Reserve Bank of New Zealand
Photo: Phillip Capper/Flickr

The Reserve Bank of New Zealand has detailed its plans to begin selling its pandemic bond holdings in July.

The decision to sell NZ$50 billion (US$31.5 billion) purchased under the Large Scale Asset Purchase (LSAP) programme was made at the monetary policy meeting in February.

Under a memorandum of understanding with the Treasury signed on June 7, the central bank will sell NZ$5 billion per financial year. It will sell bonds in order of maturity date, beginning with the longest maturity

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