RBNZ stops printing money today

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Forums › Finance and wealth management › RBNZ stops printing money today

Batman

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#302609 6-Dec-2022 12:54

https://www.nzherald.co.nz/business/reserve-bank-officially-stops-money-printing/3JOTEJ2MSRCSHLUP3XMDBJERP4/

paywalled, first 2 sentences

The Reserve Bank’s most controversial Covid-era economic support programme ends today.

Banks will no longer be able to borrow newly printed money from the Reserve Bank via its Funding for Lending Programme (FLP).

eracode

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#3006242 6-Dec-2022 13:15

Yes - and all things being equal, that should result in increases in Term Deposit rates - for those who are interested in them.

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Handsomedan

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#3006244 6-Dec-2022 13:17

I wonder what this will mean for floating mortgage rates?

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#3006249 6-Dec-2022 13:29

I think the cessation of FLP has already been priced-in by the market - RB announced the cessation date many months ago.

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wellygary

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#3006258 6-Dec-2022 13:42

Handsomedan:

I wonder what this will mean for floating mortgage rates?

Nothing...

Its not the result of any decision made recently , The programme had a 2 year life and it has now reached 2 years,

Everyone knew the end was coming today and everyone will have planned on it ending

From 2020
https://www.rbnz.govt.nz/hub/domestic-markets-media-releases/reserve-bank-outlines-details-of-funding-for-lending-programme---1-december-2020

"The programme starts from 7 December and runs until 6 June 2022 for the initial allocations, and until 6 December 2022 for the additional allocations. "

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