The Reserve Bank of New Zealand will purchase up to $30 billion of government bonds over the next 12 months, as part of a new large-scale asset purchase programme

In a statement today (March 23), the RBNZ said it would purchase the bonds across a range of maturities from the secondary market over the next year. The action comes just a week after the central bank’s last major easing measure, having cut interest rates by 75 basis points on March 16.

“The programme aims to provide further support