The Monetary Policy Committee has accepted to proceed with the Large-Scale Asset Purchase (LSAP) programme for maintaining low-interest rates. The LSAP quantum continues at NZD 60 billion. The assets comprise NZ Government Inflation-Indexed Bonds, Local Government Funding Agency Bonds, and New Zealand Government Bonds.
As per the direction issued on 16 March, the Official Cash Rate (OCR) is held at 0.25 per cent. The committee shall review the quantum at regular interval with a focus on obtaining its remit.