March 24, 2020 / 9:13 PM / 7 days ago

NZ c.bank proposes to buy $146 mln in government bonds as part of QE

WELLINGTON, March 25 (Reuters) - The Reserve Bank of New Zealand proposed on Wednesday to buy NZ$250 million ($145.70 million) in government bonds as part of its quantitative easing programme.

RBNZ will buy bonds maturing in May 2021, April 2033 and April 2037, it said.

The central bank announced quantitative easing plans on Monday and said it would start buying up to NZ$30 billion ($17 billion) worth of government bonds, following other central banks’ moves to offset the impact of the coronavirus on the economy. ($1 = 1.7159 New Zealand dollars) (Reporting by Praveen Menon)

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