The Reserve Bank of New Zealand is investigating the accidental early disclosure of details of one of its new monetary policy tools.

The central bank has appointed Deloitte to independently review its internal processes, after a letter confirmed the RBNZ’s intention to launch a funding for lending programme (FLP) 45 minutes before the policy was officially announced.

The RBNZ said the letter, signed by deputy governor Geoff Bascand, did not contain “specifics” of the FLP, and the “limited

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