RBNZ comments on liquidity facilities from Covid
- Will be removing some of the temporary liquidity facilities put in place during the Covid 19 pandemic
- decision has no implications for the stance of monetary policy
- central bank is in a position to supply liquidity as required via its daily open market operations or reinstatement of the special facilities in the future if needed
- Will remove term auction facility (TAF) where banks have been able to borrow funds for three, six and 12 months using eligible collateral
- Will remove corporate open market operation (COMO) where banks have been able to borrow funds for three months using eligible collateral
The NZDUSD has moved back above the 100 hour MA and testing the 38.2% retracement of the move down from the March 2 high (at 0.71779). Buyers are taking a bit more control after the trend move down since the February 25 high.
