On 13 May, the Reserve Bank of New Zealand (RBNZ) expanded the large scale asset purchase (LSAP) programme to NZ$60 billion (US$36.3 billion) over the next 12 months from the previous NZ$33 billion limit. “The expansion to the LSAP programme aims to continue to reduce the cost of borrowing quickly and sharply,” the Monetary Policy Committee (MPC)’s statement explains.