Reserve Bank of New Zealand Assistant Governor Christian Hawkesby on the wires already to kick off the week
- Bank continues to monitor market developments very closely
- stands ready to act further to ensure markets and the financial system operate in a stable and efficient manner
- "We are committed to support smooth market functioning"
RBNZ is deploying another tool
- A new weekly Open Market Operation (OMO)
- will be held at 11am local time each Tuesday
- offer around 500m NZD for terms up to around 3 months
- will provide liquidity in exchange for eligible Corporate and Asset-Backed securitie
- facility would provide another channel for banks to continue funding their corporate clients.
