By Stephen Wright
WELLINGTON, New Zealand--The Reserve Bank of New Zealand said it is boosting monetary stimulus to counter the pandemic's economic damage.
The central bank on Wednesday raised the limit of its large-scale asset purchase program to 100 billion New Zealand dollars (US$65.77 billion) from NZ$60 billion.
The RBNZ left its cash rate unchanged at 0.25% as expected. It said in March that the rate would stay at that level until the first quarter of next year.
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