RBNZ: Term for lending has been extended to five years from three years

Anil Panchal FXStreet

The Reserve Bank of New Zealand (RBNZ) announced extension of its lending term from currently three to five years during early Thursday. Earlier during the day, New Zealand ‘s Finance Minister Grant Robertson also announce increase in limits for business loans from New Zealand dollar 500,000 to 5 million.

Key quotes

Will continue to offer to lend funds to banks at the official cash rate.

New facility will be available to use from 26 August and now runs through to 1 February 2021.

NZD/USD keeps recovery moves…

Following the announcement, NZD/USD pair extends the pullback from 0.6544 to 0.6570, up 0.13% on a day.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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