This news conference will start at about 3:00pm.
Our report on what this August 2020 Monetary Policy Statement means is here and will be updated as necessary following this news conference.
The RBNZ media release is here.
Today's full Monetary Policy Statement is here.
When the live news conference is finished we will place a video recording of it on this page as soon as it becomes available.
20 Comments
Best have a ‘lockdown’ to distract the plebs.. so that the real news of the complete debasing of the NZ dollar by RBNZ QE Will be overlooked. Nothing like a crisis to mask our unstable household debt levels. Wonder if the MSM will report that on the TV tonight or will we still be encouraged to worry and fear a lockdown because of one household that may have visited Rotorua. Time for proper journalism again NZ.
Keen to understand how you can have a properly functioning bond market when the RBNZ is gobbling up 60% of it. If the bank is actively interfering in the bond market to bring yields down (at any scale, let alone more than half), it isn't a properly functioning market is it?
More than Swaps are going to collapse here.
NOTHING is going to be exempt from what's been coming for some time.
Anyone who borrows anything at whatever interest rate is available needs their head read.
Whatever it is they buy/build/accumulate is going to deteriorate in price.
Borrowing at minus 5% makes no sense if the asset underlying the transaction falls by 30%.
Real Wages can collapse with Deflation as you well know ( nominal fall faster than deflating asset prices; that's coming as Unemployment escalates and people out-bid each other to attempt labour utilisation. What is the Real Wage of the Unemployed?). And yes, my suggestion is that the collapse I note will be Deflationary. Very....
Michael Reddell's Expectations re the MPS here. T'will be Interesting to see his reaction to the real thing, given that he's no fan of the Orracle.
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