So, the RB talks about all the "other" weapons they have to combat the current crisis but the first reaction is to use the same old move - cut the cash rate!
:confused:
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So, the RB talks about all the "other" weapons they have to combat the current crisis but the first reaction is to use the same old move - cut the cash rate!
:confused:
it feels very ironic to me that the RBNZ hasnt even had time to implement its strategy to combat a 'one in 200 year' event before that very event happens , and even worse they decide to delay implementation of that strategy.
statistics are so useless huh. Fat tails rule the day.
Adrian been outgunned today by Jerome...The FED cut rates 1% to Zero use what the FED calls crisis policy...and the Futures have been closed...Hmmm kinda doesn't sound good in the world atm..eh
Will NZ banks pass on all the rate cuts ?? and will kiwis get over the FEAR of CORVID19 and continue to buy and build new properties (really the heart of NZ growth over the last many years =Consumer spending)
Reddell not impressed
https://croakingcassandra.com/2020/0...etty-dreadful/
I haven't red that one but have been reading a lot of them recently.
I'm actually quite impressed by what Orr is saying today, and I comment that I am increasingly unimpressed with how niggardly Reddell is in his criticisms. A real croaker as he calls himself. I think he must have a bee in his bonnet about something..... Very knowledgeable and thorough though.
One of the most influential / powerful people in the country and we can’t even vote him out.
Of course there will be a recession, and of course Orr has to try not to predict it. Any financial journalist will know that, and if they need Orr to confirm what they know, they should switch to writing the gardening column. The big question is will it be worse than a recession?
RBNZ starts $30 Billion QE https://www.stuff.co.nz/national/hea...rotect-economy