Black Monday

[bull....]

i see economists are starting to come around last week it was recession now it is deep recession

He said the Government's decision on Saturday to require all new arrivals to self-isolate for two weeks had cemented a "deep recession" in New Zealand

https://www.stuff.co.nz/national/hea...economists-say

maybe next mth depression

[Balance]

i see economists are starting to come around last week it was recession now it is deep recession

He said the Government's decision on Saturday to require all new arrivals to self-isolate for two weeks had cemented a "deep recession" in New Zealand

https://www.stuff.co.nz/national/hea...economists-say

maybe next mth depression

In the same breath, said economist wants RBNZ to waive increased capital requirement.

Who’s kidding who?

[mondograss]

In the same breath, said economist wants RBNZ to waive increased capital requirement.

Who’s kidding who?

Haven't they decided to defer the increase anyway?

[stoploss]

In the same breath, said economist wants RBNZ to waive increased capital requirement.

Who’s kidding who?

Bal you never replied to my question post 6507 .
You think he is doing a good job , but he has extended the timeframe on this implementation ...then said at the press conference the banks are basically already there now ...
This is the sort of a one in 200 year event he is trying to protect the banks from , but then goes and pushes it out ......

[Bjauck]

It certainly will in the resort towns >> but they may well find it hard to get renters

The UK are reported to be preparing to coccoon the elderly, whilst letting the rest develop "herd immunity" . Not many others agree. However perhaps we could adapt part of their plan, and cocoon elderly and other high risk people in the unused accommodation in tourist towns, along with transferring some support personnel. Otherwise, retirement villages in towns and cities are ideally placed to become cocoons.

The UK have fewer NZ style retirement villages, so are at a disadvantage when it comes to providing safer havens for the elderly.

[bull....]

china stats dept has just released statement saying virus has impacted the chinese property market

[bull....]

Prime Minister says economic impact of Coronavirus could be greater than global financial crisis

https://www.stuff.co.nz/national/hea...nancial-crisis

see they coming round now treasury admitting it be worse

[Jaa]

Prime Minister says economic impact of Coronavirus could be greater than global financial crisis

https://www.stuff.co.nz/national/hea...nancial-crisis

see they coming round now treasury admitting it be worse

NZ will only wake up to the reality if it affects house prices...!

Guess immigration will be put on hold for a while? There goes some demand. Then there's all those AirBnBs that will be empty. Even with record low interest rates, how many will be forced to sell to keep the bankers happy? Or just rent them out to Kiwis? More supply, lower rents, lower returns, lower prices? Maybe, maybe not.

Maybe a good chance for NZ to really attack our homelessness and housing affordability. Labour could announce a big house building campaign tomorrow to create jobs and fulfill their election promise.

[Balance]

If he was ahead of the curve he would have cut at the last OCR meeting .... ( when many were picking a cut )
Now has been forced to get with the program with an emergency cut .
Also not so ahead of things now he is delaying the introduction of the new bank capital rules .
Not to mention he has said we are not prepared for negative rates ..... Why ?

Nobody expected Jacinda to blindly follow Trump's 180 degrees U-turn knee jerk reaction to ban entry into the country.

Dynamic situation so RBNZ has to respond and imo, has responded accordingly as the situation changed so drastically.

Brash or Bollard would have waited for data to confirm that NZ is in recession before cutting.

[bull....]

looking like a savage night coming up implied open 10% down at this stage , gold being liquidated , bitcoin etc , oil heading to new lows