In the aftermath of the February earthquake, we did observe some near-term prices increases (for instance, in commercial and residential rents). Consistent with the Policy Targets Agreement, monetary policy does not react to such short-term price changes.
A  16  Reserve Bank of New Zealand (2020k): Reserve Bank to begin Large Scale Asset Purchases. Ref #9122402 v2.12  13  continued absence of secondary market liquidity was creating a real risk that primary issuance in New Zealand’s debt capital market – a key channel of monetary policy – could be closed for a prolonged period.