NZ central bank proposes to buy NZ$1.8 bln in govt bonds

The Reserve Bank of New Zealand on Friday proposed to buy NZ$1.8 billion ($1.06 billion) in government bonds next week as part of its quantitative easing programme.

The bonds will mature between 2021 to 2037.

The central bank has announced quantitative easing plans 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 = 1.6958 New Zealand dollars)