Reserve Bank of Australia dumps emergency $14.7 billion into banking system and states intention to buy up Morrison Government debt, as financial system is stressed by COVID-19 pandemic

Reserve Bank of Australia, media release, 16 March 2020:

Statement by Philip Lowe, Governor

As Australia's financial system adjusts to the coronavirus (COVID-19), financial regulators and the Australian Government are working closely together to help ensure that Australia's financial markets continue to operate effectively and that credit is available to households and businesses. (Refer to earlier Council of Financial Regulators' (CFR) press release.) Australia's financial system is resilient and it is well placed to deal with the effects of the coronavirus. At the same time, trading liquidity has deteriorated in some markets. 

In response, the Reserve Bank stands ready to purchase Australian government bonds in the secondary market to support the smooth functioning of that market, which is a key pricing benchmark for the Australian financial system. The Bank will also be conducting one-month and three-month repo operations in its daily market operations until further notice to provide liquidity to Australian financial markets. In addition the Bank will conduct longer term repo operations of six-months maturity or longer at least weekly, as long as market conditions warrant. The Reserve Bank and the AOFM are in close liaison in monitoring market conditions and supporting continued functioning of the market. 

The Bank will announce further policy measures to support the Australian economy on Thursday. 

Channel 9 News, 16 March 2020:

The Reserve Bank has pumped extra liquidity into the banking system, part of a package of measures aimed at ensuring business and households have access to credit as the coronavirus causes chaos in global financial markets.

The RBA used its daily money market operation to add $5.9 billion to the system through regular repurchase agreements, well above its original intention of $2.5 billion.

That followed an injection of $8.8 billion on Friday, which had left commercial banks with a hefty $10.7 billion of surplus cash held at the RBA.....

All major activities and events will temporarily be ceased in NSW public schools

Echo NetDaily, 15 March 2020:

All major arts, sports and initiative activities and events will temporarily be ceased until further notice. This includes whole school sporting events and inter-school events involving three or more schools.

‘Local inter-school sport and other activities, can proceed but we ask organisers to ensure that as far as possible, reasonable precautions are taken,’ he said.

‘I trust our principals and staff to show leadership during this time.

Schools will be provided with more detailed advice and suggestions on how they can adjust their day to day activities with minimal disruption.

The Department is continuing to prepare for further closures if necessary with scaling up of technology, additional training of staff and preparation of offsite lessons.

Useful links for families and students in self-isolation can be found here: https://education.nsw.gov.au/teaching-and-learning/curriculum/continuity-of-education

And general COVID-19 advice for schools here:

https://education.nsw.gov.au/public-schools/school-safety/novel-coronavirus.html

Clarence Valley 2020: For the first time since WWII Maclean's Highland Gathering has been cancelled

On 16 March 2020 the organiser's of the Highland Gathering at Maclean NSW - due to be held on 10 & 11 of April - announced it will not be held this year due to national restrictions in place with regard to large groups during the the COVID-19 pandemic.

Secretary of the Lower Clarence Scottish Association Alister Smith told The Daily Examiner; “We obviously have a lot of people within the particular age range that are susceptible. It’s a very difficult decision when you think the last time we’ve had to cancel the gathering was for World War II.”

Participating bands, solo players, stall holders and sponsors will be contacted in coming days to make arrangements for repayment of any fees.

In the Clarence Valley at least 17.5 per cent of the populaion are 70 years of age or older and, health authorities have identified the elderly as being more vulnerable to infection.

NCEC Fire Forum - 'Let's Talk About Fire', Saturday 28 March 2020, Whiporie General Store, Whiporie, NSW 2469 at 10:00 am – 4:00 pm AEDT

NCEC Fire Forum - 'Let's Talk About Fire'

Are you concerned about what the Australian Fires, the government inquiries and the Royal Commission will mean for our forests and native wildlife?

As well as the devastating impacts to life and property, the recent, unprecedented wildfires have resulted in extensive losses of our precious biodiversity from the mountains to the sea. Given the increasing impacts of global heating, such extreme climatic events are likely to become more frequent in the future. This North Coast Environment Council (NCEC) event is specifically targeting conservation groups and individuals who care about nature to come together to discuss the way forward to assist the restoration of habitats, recovery of our flora and fauna and planning to better protect our biodiversity from future catastrophic events. The NCEC have enlisted a number of expert presenters who will provide information on key aspects of bushfire planning for biodiversity outcomes. Learn about the extent of our biodiversity losses and discuss ways to mitigate the impact that similar future events will have on our precious flora, fauna and cultural values.

When: Saturday March 28, 2020

Time: 10am - 4pm

Where: Whiporie Hall, 5351 Summerland Way, Whiporie, NSW 2469

Between Grafton and Casino on the Summerland Way

Fee: $15 include morning/afternoon tea and lunch, concession $10

Speakers

• Dailan Pugh OAM - What we’ve lost, flora, fauna and EEC’s
• Dr. Rob Kooyman - Fire in Gondwana Rainforest
• Ian Dixon - Community response from the Mt. Nardi fire
• Oliver Costello - Firesticks Alliance - Cultural Burning
• Maria Mathis - Koalas, planning for fire
• Dr. Wayne Somerville - The 2019/20 Bushfire Trauma:
• Recovery and resilience for people and forests
• Dr. Graeme Douglas - Threats to conservation as a result of wildfires reviews /enquiries

Q&A Session

Booking is essential by 26th March 2020

Please email through any special dietary requirements to Jim Morrison: pactec@harboursat.com.au

Contact: Jim Morrison

Email: pactec@harboursat.com.au

Ph: (02) 6664 5233

Organiser of NCEC Fire Forum - 'Let's Talk About Fire' is North Coast Environment Council Inc. Formed in 1976, it is the peak umbrella environment group in northern NSW, covering the area from the Hunter to the Tweed and west to the New England Highway.

Sixteen weeks after the 2019 Border Ranges bushfires in north-east New South Wales this is how the rainforests looked

https://youtu.be/LOU9CVWYT9M

Some 160,000 hectares of NSW's rainforests burnt in 2019, the effects were devastating, this video shows the effects on World Heritage listed rainforests of the western Border Ranges.

Coles supermarkets now have new purchasing rules due to coronavirus panic buying as of 14 March 2020

As the situation around Coronavirus continues to develop, we believe that everyone in the community should have access to their share of grocery items, particularly the elderly.

Following the toilet paper restrictions introduced last week we have seen compassion from customers respecting these limits.

Our team members and suppliers have also been working as hard as possible delivering more products to stores every day and stocking shelves as quickly as possible. I would ask all customers to continue to respect and support our team members, particularly if a product is unavailable or the checkout queues are longer than normal.

To continue to allow everyone the opportunity to purchase staple items, we will be implementing a couple of further changes throughout our stores:

1.   From Saturday we will limit the purchase of pasta, flour, dry rice, paper towels, paper tissues and hand sanitisers to 2 items per customer. We will also be introducing some additional limits on certain items in each store. These can vary between stores, so please visit your local Coles for more information.

2.   From today we will be temporarily suspending our change-of-mind refund policy to discourage over-purchasing. If you have already purchased additional items you no longer want, please look at donating them to community organisations or neighbours who have been struggling to purchase them during this time.

Further information on Coronavirus can be found at www.health.gov.au

Thanks for your ongoing support and patience in these unprecedented times. We will get through this together!

Best wishes,

Steven Cain

CEO, Coles Group

COVID-19 virus spread in NSW is gaining pace in March 2020

This post is no longer updating.

11 Affected NSW Local Heath Districts, 14 March 2020

In the space of fourteen days the COVID-19 virus went from 6 cases in New South Wales to 91 cases.

To date 44.4% of all Australian confirmed COVID-19 cases are in this state.

NSW UPDATES:

48.7% as of 15 March 2020
45.2% as of 16 March 2020
46.6% as of 17 March 2020
47% as of 18 March 2020
45% as of 19 March 2020
41.7% as of 20 March 2020
40.6% as of 21 March 2020
39.36% as of 22 March 2020
41% as of 23 March 2020
44.6% as of 24 March 2020
42.4% as of 25 March 2020
43.5% as of 26 March 2020

Cumulative COVID-19 confirmed infection numbers since the outbreak began in New South Wales*

• 15 January 2020 - 1 case
• 25 January 2020 - 3 cases
• 31 January to 28 February 2020 - 4 cases
• 29 February 2020 - 6 cases
• 2 March 2020 - 9 cases
• 3 March 2020 - 15 cases
• 4 March 2020 - 22 cases
• 5 March 2020 - 25 cases
• 6 March 2020 - 28 cases
• 7 March 2020 - 36 cases
• 8 March 2020 - 40 cases
• 9 March 2020 - 47 cases
• 10 March 2020- 54 cases
• 11 March 2020 - 64 cases
• 12 March 2020 - 77 cases
• 13 March 2020 - 91 cases
• 14 March 2029 -111 cases

NSW UPDATES:

• 15 March 2020 - 133 cases
• 16 March 2020 - 171 cases
• 17 March 2020 - 210 cases
• 18 March 2020 - 267 cases
• 19 March 2020 - 307 cases
• 20 March 2020 - 353 cases
• 21 March 2020 - 436 cases
• 22 March 2020 -533 cases
• 23 March 2020 - 704 cases
• 24 March 2020 - 818 cases
• 25 March 2020 - 1,209 cases
• 26 March 2020 - 1,219 cases

Conservative infectious disease models suggest that every person infected with COVID-19 has the potential to infect 4 other people.

On 1 February 2020 Australian Prime Minister & MP for Cook Scott Morrison announced a ban on direct travel from mainland China.

On 29 February 2020 Morrison imposed a ban on direct travel from Iran. However this was a case of closing the stable door after the horse had bolted.

On 5 March he announced a ban on travel from Korea and on 11 March from Italy. 

As of 14 March Morrison refuses to consider a ban on travel from the United States of America, even though more people who have entered Australia from the US have been diagnosed with the coronavirus than was the case with incoming flights from Iran.

By Saturday morning, 14 March 2020 there were 197 confirmed cases of COVID-19 in Australia with 3 deaths and 27 fully recovered, according to an Australian Dept. of Health health alert on the same day. This left 167 confirmed active cases of COVID-19.

That figure changed later on Saturday, as New South Wales,  Western Australia and South Australia reported additional cases, bringing the national count to 223 confirmed cases with three deaths and 27 fully recovered.

AUSTRALIAN UPDATES: 
As of midnight 14 March 2020 the national count stood at 250 confirmed COVID-19 cases.
As of 8:82pm 15 March 2020 the national count of COVID-19 cases is 251.
As of 11am 15 March 2020 the national count is 273 confirmed COVID-19 cases.
As of 15 March 2020 the COVID-19 national death toll has reached 5 persons.
As of 16 March 2020 the national count is 378 confirmed COVID-19 cases.
As of 17 March 2020 the national count is 450 confirmed COVID-19 cases.
As of 18 March 2020 the national count is 568 confirmed COVID-19 cases.
As of 19 March 2020 the national count is 681 confirmed COVID-19 cases.
As of 20 March 2020 the national count is 846 confirmed COVID-19 cases.
As of 21 March 2020 the national count is 986 confirmed COVID-19 cases. As of midnight on 21 March the national count was 1,073 confirmed COVID-19 cases, with 7 deaths.
As of 22 March 2020 the national count is 1,354 confirmed COVID-19 cases. 
As of 23 March 2020 the national count is 1,717 confirmed COVID-19 cases.
As of 24 March 2020 the national count is 1,831 confirmed COVID-19 cases. 
As of 25 March 2020 the national count is 2,423 confirmed COVID-19 cases. 
As of 26 March 2020 the national count is 2,799 confirmed COVID-19 cases - the number of deaths has now reached 13.

If Victorian Dept of Health published data is any indication then exposure to this particular coronavirus is likely to occur at Australian airports, aboard domestic/international commercial airline flights, on metropolitan trains, at sporting events, in parks/ovals, at supermarkets, university campuses, hotels, cinemas, markets and medical practices, as well as at high schools.

During this last week, despite federal or state governments refusing to outright ban large gatherings of over 500 people (and only offering recommendations for many types of gatherings) and the prime minister encouraging people to turn up at sporting events, actual event organisers and businesses began to make their own decisions to either cancel events or run them without audiences.

By Friday, after the general public discovered that at least one federal cabinet minister had tested positive for COVID-19, Scott Morrison altered his stance and advised all "non-essential, organised gatherings" of 500 people or more be cancelled from Monday to limit the spread of COVID-19. 

Mainstream media reported that Mr. Morrison refused to be tested for the virus and, extended this exemption to all of his ministers, stating none needed to be tested or needed to self-isolate.

It seems that there is one rule for the general population based on proven epidemiology protocols and one special rule for Scott Morrison and his political mates.

Luckily for the people of New South Wales someone in the Berejiklian Government had a different perspective on political privilege and, the Sydney offices used by Morrison and certain other cabinet ministers - along with various state /territory ministers and departmental staff - were promptly cleaned.

Government offices in Sydney being cleaned by people in hazmat following Peter Dutton’s positive test. ⁦@9NewsAUS⁩ pic.twitter.com/bB25XMvj69

— Chris O'Keefe (@cokeefe9) March 14, 2020

Note: 

* Official numbers are not updated on Saturday or Sunday. However, looking at the exponential growth to date, by Monday 16 March 2020, the state of New South Wales may have entered the point of no return if it has not completely banned all large gatherings. 
See: https://www.health.nsw.gov.au/news/Pages/2020-nsw-health.aspx for latest NSW statistics. Please be aware that the original statistics show 1 interstate resident diagnosed in NSW, who by protocol is listed under state of residence, so has been deducted by me from the NSW total. 
It appears that an est. 16,593 people in NSW have been tested for the virus to date, with 14,665 returning a negative result.