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MNI: RBNZ announces funding program, leaves rates on hold

MNI (Sydney)

The Reserve Bank of New Zealand today announced that a Funding for Lending Program (FLP) to make low cost funding available to commercial banks would begin in early December.

The statement did not detail the size of the program, which the bank says is a first step to negative interest rates.

The RBNZ also left official interest rates unchanged at a record low 0.25%.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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