PolicyGuy:

 

Firstly, there isn't room for a "massive cut" when the OCR is already at 1.0%
Secondly, there is no evidence that this is a situation where an OCR cut would make any difference at all.

 

I expect that the RBNZ will say words to the effect that

 

• this is an precedented situation and not one where monetary policy can usefully be brought to bear, particularly taking the current record low OCR into account.
  They might add, but as a symbol of our willingness to be part of the solution rather than the problem, we've sliced twenty-five basis points off the OCR
• fiscal measures must be brought to bear, as illustrated by the Treasurer's announcement on <whenever it was>
• the RBNZ is taking a proactive stance to support and ensure the integrity of the banking system
• the RBNZ executive is in constant contact with the government and stands ready to assist the government in any way possible 

Just my $0.02

 

I'm not sure zero is a meaningful floor anymore. But we'll see - they could be happy with the Government's relief package and decide they'll wait to see how that plays out. If they are heavily involved with provisions around mortgage relief then there may be no real benefit to dropping the OCR significantly. 

alexx:

 

freitasm: Yesterday someone posted a screenshot of a Melbourne flight to NZ that was moved by Air NZ to an hour earlier so it would arrive here tonight before midnight.

Disgusting.

 

I suppose it's not against the law for Air NZ to help people beat the self isolation deadline, but I hope someone reminds them about this when they're asking for government assistance.

 

The virus itself doesn't understand deadlines and cutoff periods. IMO, it goes against the whole concept of self isolation. 

Australia has a higher rate of cases per population, than the USA, and has rising steeply according to this table https://www.worldometers.info/coronavirus/

IMO everyone who has come in from all these countries in the last 14 days should be told to  self isolate. eg If they have already been here for 4 days, they should be told to go into isolation for 10 more days. Better to be safe than sorry.

freitasm:

 

Knowing this I would say it's irresponsible to extend the deadline and irresponsible to change flight times.

 

 

Board of Airline Representatives NZ executive director Justin Tighe-Umbers said on Sunday the change had been made to reflect the reality of Sunday night flight patterns, when flights typically landed late in the evening.

 

The deadline referred to the time a plane touched down on the runway and passengers could come through border controls after 1am without needing to self-isolate, he said.

 

This is what happens when the wrong kind of people get to make - or influence - decisions.

They should have never given any forward notice - with possible exception for passengengers on flights already in the air - when the policy was announced it should have taken effect immediately.

GV27:

 

 

 

I'm not sure zero is a meaningful floor anymore. But we'll see - they could be happy with the Government's relief package and decide they'll wait to see how that plays out. If they are heavily involved with provisions around mortgage relief then there may be no real benefit to dropping the OCR significantly. 

 

People with money in the bank won't be wanting a negative interest rate, so those people will likely take their money out of the bank. The problem is where you put it. I doubt they will want a run on the banks at this time in history. It is amazing how many potential knock on effects this virus is having.

Fred99:

 

From a quick look - between 11pm tonight and 1am tomorrow, there's 12 flights from Aus cities to Akl, 5 to Chch, 5 to Wellington, so 22 plane loads / 3 - 4,000 people who won't have to quarantine. 

 

Can't see it not spreading here then. Weeks of lock down for the country coming soon. Australia is a hot spot.

So much for trying to smooth the curve, say all's well at 1am, but a bit late after the horse has bolted.

What are the people that make these decisions thinking.....?

PolicyGuy:

 

The only trouble is, I suspect the government are too well-behaved to embrace such a basically evil course of action
LOL

 

umm they have Winston Peters right?

rugrat:

 

Fred99:

 

From a quick look - between 11pm tonight and 1am tomorrow, there's 12 flights from Aus cities to Akl, 5 to Chch, 5 to Wellington, so 22 plane loads / 3 - 4,000 people who won't have to quarantine. 

 

 

Can't see it not spreading here then. Weeks of lock down for the country coming soon. Australia is a hot spot.

 

So much for trying to smooth the curve, say all's well at 1am, but a bit late after the horse has bolted.

 

What are the people that make these decisions thinking.....?

 

i'll tell you what they're thinking, rightly or wrongly, flatten the curve.

code15: Sitting at Sydney international terminal, there are people around with visible cold symptoms (coughing, sneezing, blowing noses). I wouldn’t travel back if I felt unwell but I get that some may not be able to wait it out.

Feeling pretty uneasy. Deadline should have come into effect shortly following the announcement so people didn’t start piling into flights back today.

code15:

Sitting at Sydney international terminal, there are people around with visible cold symptoms (coughing, sneezing, blowing noses). I wouldn’t travel back if I felt unwell but I get that some may not be able to wait it out.

.

That doesn't sound good at all. This seems like it is a major leak where new cases could make their way into NZ. I hope the government will be backdating self isolation, and people who can't or refuse to do it, will be sent back..

Oblivian:

code15: Sitting at Sydney international terminal, there are people around with visible cold symptoms (coughing, sneezing, blowing noses). I wouldn’t travel back if I felt unwell but I get that some may not be able to wait it out.

Feeling pretty uneasy. Deadline should have come into effect shortly following the announcement so people didn’t start piling into flights back today.

May be in for a surprise on arrival. Additional staff, individual checks and nurses being stationed

Do they have the power though to impose self isolation on people who have symptoms?

Batman:

 

 

 

i'll tell you what they're thinking, rightly or wrongly, flatten the curve.

 

NZ though doesn't have a curve like other countries. Today we have 2-3 new cases (one on a cruise ship is likely). Up until this spike today, there havn't been any cases for a few days. Sounds like it is just a slogan that they don't understand. Not unless they also think there are a lot of cases in NZ which haven't been tested and diagnosed.