Michael Reddell: former Reserve Bank Economist on the Reserve Bank recently stopping their money printing program

Heather du Plessis-Allan Drive

The Reserve Bank's Covid-era money printing scheme has officially ended as of today.

Banks will no longer be able to borrow newly printed money from the Reserve Bank via its Funding for Lending Programme (FLP).

Former Reserve Bank Economist Michael Reddell was among the many experts criticising The Reserve Bank for keeping this program going as they aim to tackle inflation.

"This was set up as a crisis management program at a time when the Bank was worried that we couldn't take the OCR negative. It should have been called to a halt a long time ago. They were under no legal obligation to make a rhetorical commitment. "

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