Garbage. Unadulterated garbage.
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I had to check which thread I was in - this isn't the Labour-NZ-First-Government thread.
Adrian Orr appeared before the Epidemic Response Committee on 16 April. His interview starts on page 31. Negative interest rates are on hold for 12 months because there are technical difficulties for banks to do them.
He said “negative interest rates are on hold for 12 months, and we’ll do the quantitative easing. But they’re not off the table. Why 12 months? Because that gave the market sufficient certainty that the rates are going to stay where they are, and it gave the banks sufficient certainty that they had a time period over which they could prepare themselves, if we need to go down that path.”
“We ruled out the negative OCR first up because the banks themselves were so busy dealing with the various issues we’ve just finished talking about that we removed so much of our regulatory work with them; we put it all on hold; we said, “Don’t worry about your systems getting system ready for accepting the negative interest rates.”—some banks can; some can’t.”
Hansard Transcript - Epidemic Response Committee 16 April 2020 (docx 97KB)
The coronavirus that emerged in Wuhan, China, over four months ago has since mutated and the new, dominant strain spreading across the U.S. appears to be even more contagious
https://www.cnbc.com/2020/05/05/the-...udy-finds.html
USA strategy seems to be business first , lives second so be interesting to see in months ahead if this strategy pays off. if not i guess the market will tank
An up day on the Dow so the doomsday merchants (as usual) have gone into hiding - waiting for a down day to post their end of the world messages.
Which is a pity, really - because extreme caution is required in the economies and markets we are in now and in the months ahead.
And that’s where perspective is required - some positives thoughts on the truly dark down days, and some negatives thoughts on the truly exuberant up days.
A good article to put the huge market bounces since the lows in March in perspective.
https://finance.yahoo.com/news/massi...183250515.html