Economics
RBNZ Steps Up Pace of Bond Purchases Amid Flood of Issuance
- Seeks to Buy NZ$1.8 billion of bonds in Week of April 6
- Will hold three auctions on successive days due to Easter
Outside the Reserve Bank of New Zealand (RBNZ) building in Wellington, New Zealand.
Photographer: Birgit Krippner/BloombergThis article is for subscribers only.
New Zealand’s central bank signaled it will further increase the pace of its bond purchases amid a flood of new issuance as the government battles the economic fallout from the coronavirus pandemic.
The Reserve Bank will seek to buy NZ$1.8 billion ($1.1 billion) of government bonds next week, according to a schedule published Friday in Wellington. That’s up from NZ$1.35 billion this week and more than twice the NZ$750 million of weekly purchases it said it would aim for when the quantitative easing program was announced March 23.