Every time the Reserve Bank has pushed up interest rates in order to take money out of the system, it’s also been putting money in, in a way it didn’t use to.
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Articles on Term Funding Facility
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The Reserve Bank’s Term Funding Facility was meant to support lending during COVID. Instead the funds might be ending up in the accounts of bank shareholders.
Almost all of the Reserve Bank’s new Term Funding Facility has ended up in the hands of big businesses. There’s a way to make sure small businesses get it.
