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Independent Review Examines Bank's Covid-19 Monetary Policy

1 report, 1 independent Updated Sep 1
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What happened

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The government released an independent review examining the decisions made by a bank's monetary policy committee. The report stated that the bank's initial response to the Covid epidemic was praiseworthy, noting that rapid and innovative monetary accommodation was provided. The review found that the monetary stimulus remained in place for too long.

From odt.co.nz

Why it matters

Some supportBrind's analysis of the reports

The review analyzed how the bank's actions, including slashing the official cash rate to 0.25 percent and using large-scale asset purchases, helped restore government bond markets and provided a timely boost to the economy. The findings address the effectiveness and timing of major central bank interventions.

From odt.co.nz

Who's involved

  • bankFinancial institution whose monetary policy decisions were reviewed
  • governmentGoverning body that commissioned and released the independent review

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