Source: Taxpayers Union
12 AUGUST 2020FOR IMMEDIATE RELEASE
Responding to the Reserve Bank of New Zealand’s decision to expand its Large Scale Asset Purchase programme from $60 billion to $100 billion, New Zealand Taxpayers’ Union Economic Advisor Karan Menon says:“The Reserve Bank has just announced a $40 billion expansion of its money-printing programme. In other words, cuts to the official cash rate have become ineffective for stimulus, and the Reserve Bank is resorting to desperate measures.”“Monetary policy interventions are clearly failing to spur spending in the economy. This failure will become critical as eligibility for the Wage Subsidy
