November 18, 2020

Opps! RBNZ Accidentally Dedah Sensitive Notices

 The Reserve Bank of New Zealand (RBNZ) said it had inadvertently exposed sensitive notices from its latest Monetary Fundamentals to a group of financial services firms ahead of last week's official release date.

The edict was said to be contained in a letter sent to a non-bank financial institution, 45 minutes before a police statement was officially issued on 11 November.

The contents of the letter validate the RBNZ's decision to introduce a new monetary stimulus in the form of a Financing Program for Loans, but it does not contain a more specific explanation.

The information contained in the letter however is said to be of no benefit to anyone, but the central bank is taking it seriously and will get around this problem.

At last week's police message, New Zealand's central bank announced new stimulus in the form of low-cost loans to banks aimed at further lowering utility levels to boost economic recovery.

In addition, he also expressed a more optimistic economic outlook, once again pushing the New Zealand dollar higher.