That's not Yuk that's fantastic, another 2% would be even better.
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Expect more volatility (and downside) ahead as Trump tries to divert attention away from his legal and impeachment problems.
https://www.bbc.com/news/world-us-canada-50650216 Trump impeachment evidence overwhelming - House report
Nothing quite like the rhetoric of trade wars and China & Iran bashing to keep his 30% voter base of morons motivated and attention away from his problems.
Meanwhile, expect China to dig in as the country knew a while ago that Trump cannot be trusted and China companies are already countering moves by Trump and the US to derail the country's technological progress and economic growth.
Good example - https://www.wsj.com/articles/huawei-...ps-11575196201
Huawei Manages to Make Smartphones Without American Chips. For China’s top smartphone maker, U.S. suppliers are increasingly a nice-to-have, not a must-have
Unfortunately for everyone, it means that China will not be bowing down to Trump's demands anytime soon.
The trade war will drag on well into 2020.
Balance the prop mkt looks to be turning up here and in Aus.You thought the down cycle had a few years to run, still do?.Whats your latest info on the ground there in Auckland.
Come to Auckland and I will show you some properties being offered at 25% below CV. That tells you about the underlying state of the market.
I never ever use the median house index as a guide to property prices - it's used by the real estate industry to ramp up interest.
I would ve thought Orr going full feral with capital requirements today would've been quite negative for the market.
Its a full 18% and its not delayed as long as expected - some were saying 5 years but it is effective in July 2020
Mmmmm I think you will find the likely 5 yr implementation has been extended to 7. Good move by Mr Orr.
"The Reserve Bank has watered down the final decisions in its broadest ever review of banks' regulatory capital requirements a little and given banks seven years, instead of the previously proposed five years, to adopt them."
Read it here.
okay that's good thanks Left Field
I saw this on their own web page and misunderstood I guess
"The key decisions, which start to take effect from 1 July 2020, include banks’ total capital increasing from a minimum of 10.5% now, to 18% for the four large banks and 16% for the remaining smaller banks. The average level of capital currently held by banks is 14.1%."
Orr rips band-aid off
Bloody banks, how many $billions profit did they siphon out last year.
Them . they make such a killing out of us.Note their share prices all going up to day in aus in response to this terrible imposition on them:t_up:. They are mini cannibal vampire squids much like goldman sachs
Hats off to ORR best guvnor we've ever had and good on him not letting the white anting pressure from the ruthless banks get to him. A 7 year time frame hardly onerous and lets remember why he is doing it, so we dont have to bail them out down the line. You can handle a SLIGHTT reduction in div mac, take one for Team NZ, we are.:t_up:
I think the big 4 stripped about $5 billion in profits from the NZ economy last year. When will Kiwi's wake up and realise there's no need to allow all those profits to flow overseas. There's Kiwibank and TSB Bank, (currently matching any big Aussie banks best lending offer) and of course Heartland Bank, SBS and the Co-op Bank. New capital requirements and transition period don't look too odious.