The Reserve Bank of New Zealand expanded its monetary stimulus and retained its interest rate as the economic shock caused by the pandemic is set to remain for a prolonged period.
The Monetary Policy Committee decided to begin a Funding for Lending Programme in December in order to reduce banks' funding costs and lower interest rates.
The committee also decided to continue with the asset purchase programme up to NZ$100 billion and to maintain the official cash rate at 0.25 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.