March 27, 2020 / 1:10 AM / 14 days ago

NZ central bank proposes to buy NZ$1.35 bln in govt bonds

WELLINGTON, March 27 (Reuters) - New Zealand central bank on Friday proposed to buy NZ$1.35 billion ($802 million) in government bonds as part of its quantitative easing programme.

The bonds will mature between 2021 t0 2037.

The central bank announced quantitative easing plans this week and said it would start buying up to NZ$30 billion ($17 billion) worth of government bonds, following other central banks’ moves to counter the impact of the coronavirus on their economies.

$1 = 1.6829 New Zealand dollars Reporting by Praveen Menon; Editing by Tom Hogue

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