Money printing saved the economy – Reserve Bank

RBNZ governor Adrian Orr said the central bank followed "least regrets" policies. (Image: NZME)

Thu, 18 Aug 2022

The Reserve Bank of New Zealand says its money printing programmes helped to save the economy from collapsing as the covid pandemic hit.This was in what it called “a background paper” that made no mention of what happened to house prices and which named no authors.The large-scale asset programme (LSAP) was introduced on March 21, 2020, and ceased in July 2021 while the funding-for-lending programme (FLP) was introduced in December 2020 when annual house price inflation was already accelerating and peaked at 30% late last year.Under...

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