Wednesday 14th October 2009 |
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Improving global financial market conditions are prompting the Reserve Bank of New Zealand to withdraw several temporary crisis measures put in place last year to help ensure day to day liquidity.
The changes will kick in from November 1, and reflect the fact that many of the special facilities had barely been used in the last six months, Deputy Governor Grant Spencer said.
"The Bank feels that the time has come to start removing and consolidating temporary crisis facilities."
The RBNZ move is consistent with growing global confidence in more stable and recovering economic conditions, and increasing pressure in the United States and Europe to review stimulus measures introduced late last year during the period of deep financial market instability.
The four temporary measures being withdrawn are:
Businesswire.co.nz
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