{"id":14133,"date":"2016-09-15T20:55:20","date_gmt":"2016-09-16T00:55:20","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=14133"},"modified":"2016-09-15T20:55:20","modified_gmt":"2016-09-16T00:55:20","slug":"did-the-rba-just-signal-the-end-of-rate-cuts","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/","title":{"rendered":"Did the RBA just signal the end of rate cuts?"},"content":{"rendered":"<p>From Jens Meyer:<\/p>\n<blockquote><p>Did the RBA just signal the end of rate cuts and no-one noticed?<\/p>\n<p>Well, not exactly no-one. Goldman Sachs chief economist Tim Toohey reckons the speech RBA assistant governor Chris Kent delivered on Tuesday amounts to an explicit shift to a neutral policy stance.<\/p>\n<p><a href=\"http:\/\/www.theage.com.au\/business\/the-economy\/did-the-rba-just-signal-the-end-of-rate-cuts-and-noone-noticed-20160915-grh066.html?promote_channel=edmail&amp;mbnr=MTQyOTU1Nzk\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/09\/1473932486546.jpg?w=525&#038;ssl=1\" alt=\"\" \/><\/a><\/p>\n<p>Dr Kent spoke about how the economy has been doing since the mining boom, and in particular how its performance matched the RBA&#8217;s expectations.<\/p>\n<p>Reflecting on the RBA&#8217;s forecasts of recent years, Dr Kent essentially framed the RBA&#8217;s earlier rate cut logic around an initial larger than expected decline in mining capital expenditure and subsequent larger than expected decline in the terms of trade, Mr Toohey said.<\/p>\n<p>Having so closely linked the RBA&#8217;s easing cycle to the weakness in the terms of trade (and earlier decline in mining investment), Dr Kent&#8217;s key remark was to flag &#8220;the abatement of those two substantial headwinds&#8221; and highlight that this &#8220;would be a marked change from recent years&#8221;&#8230;.<\/p><\/blockquote>\n<p>Source: <a href=\"http:\/\/www.smh.com.au\/business\/the-economy\/did-the-rba-just-signal-the-end-of-rate-cuts-and-noone-noticed-20160915-grh066.html\">Did the RBA just signal the end of rate cuts and no-one noticed?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From Jens Meyer: Did the RBA just signal the end of rate cuts and no-one noticed? Well, not exactly no-one. Goldman Sachs chief economist Tim Toohey reckons the speech RBA assistant governor Chris Kent delivered on Tuesday amounts to an explicit shift to a neutral policy stance. Dr Kent spoke about how the economy has &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Did the RBA just signal the end of rate cuts?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,31],"tags":[1133,1161,1588,1858,2323,2860,3367,3420],"class_list":["post-14133","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-the-fed-banks-interest-rates","tag-dr-chris-kent","tag-easing-cycle","tag-goldman-sachs","tag-interest-rates","tag-mining-boom","tag-rba","tag-terms-of-trade","tag-tim-toohey"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Did the RBA just signal the end of rate cuts? - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Did the RBA just signal the end of rate cuts? - the patient investor\" \/>\n<meta property=\"og:description\" content=\"From Jens Meyer: Did the RBA just signal the end of rate cuts and no-one noticed? Well, not exactly no-one. Goldman Sachs chief economist Tim Toohey reckons the speech RBA assistant governor Chris Kent delivered on Tuesday amounts to an explicit shift to a neutral policy stance. Dr Kent spoke about how the economy has &hellip; Continue reading &quot;Did the RBA just signal the end of rate cuts?&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2016-09-16T00:55:20+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/thepatientinvestor.com\/wp-content\/uploads\/2016\/09\/1473932486546.jpg\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Did the RBA just signal the end of rate cuts?\",\"datePublished\":\"2016-09-16T00:55:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/\"},\"wordCount\":186,\"commentCount\":4,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thepatientinvestor.com\/wp-content\/uploads\/2016\/09\/1473932486546.jpg\",\"keywords\":[\"Dr Chris Kent\",\"easing cycle\",\"Goldman Sachs\",\"interest rates\",\"mining boom\",\"RBA\",\"terms of trade\",\"Tim Toohey\"],\"articleSection\":[\"Australia &amp; NZ\",\"Banks &amp; Interest Rates\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/\",\"name\":\"Did the RBA just signal the end of rate cuts? - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thepatientinvestor.com\/wp-content\/uploads\/2016\/09\/1473932486546.jpg\",\"datePublished\":\"2016-09-16T00:55:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/09\/1473932486546.jpg?fit=620%2C348&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/09\/1473932486546.jpg?fit=620%2C348&ssl=1\",\"width\":620,\"height\":348},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/15\/did-the-rba-just-signal-the-end-of-rate-cuts\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Did the RBA just signal the end of rate cuts?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Rising average tax rates -- through bracket creep caused by inflation -- have been doing some of the heavy-lifting in slowing the economy and curbing\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australian Government: Tax Cuts Ad","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-05-06-aus-taxcuts.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-05-06-aus-taxcuts.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-05-06-aus-taxcuts.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":11519,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/02\/04\/goldman-describes-australias-lost-decade-macrobusiness\/","url_meta":{"origin":14133,"position":1},"title":"Goldman describes Australia\u2019s lost decade | Macrobusiness","author":"ColinTwiggs","date":"February 4, 2015","format":false,"excerpt":"Posted by Houses and Holes. Reproduced with kind permission from Macrobusiness. Goldman\u2019s\u00a0Tim Toohey\u00a0has quantified the unwinding commodity super-cycle for 'Straya': Lower commodity prices risk $0.5trn in forgone earnings The outlook for revenues from Australian LNG and bulk commodities\u00a0shipments \u2013 which account for almost half of total export earnings \u2013 has\u00a0deteriorated\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"1","src":"https:\/\/i0.wp.com\/www.macrobusiness.com.au\/wp-content\/uploads\/2015\/02\/124-300x138.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":819,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/rate-cuts-are-coming-macrobusiness-com-au\/","url_meta":{"origin":14133,"position":2},"title":"Rate cuts are coming &#8211; macrobusiness.com.au","author":"ColinTwiggs","date":"September 18, 2011","format":false,"excerpt":"The recent seasonal adjustments to the CPI and the reduction in the level of underlying inflation blunts the force of the RBA\u2019s recent argument about inflationary pressures. But, absent an offshore catalysing event, that alone won\u2019t make them cut rates. Rather I think that household retrenchment and saving will lower\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5846,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/25\/australia-rba-running-out-of-options\/","url_meta":{"origin":14133,"position":3},"title":"Australia: RBA running out of options","author":"Colin Twiggs","date":"October 25, 2012","format":false,"excerpt":"The Reserve Bank of Australia must be viewing the end of the mining boom with some trepidation. Cutting interest rates to stimulate new home construction may cushion the impact, but comes at a price. Consumers may benefit from lower interest rates but that is merely a side-effect: the real objective\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35919,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/07\/27\/australia-q2-cpi\/","url_meta":{"origin":14133,"position":4},"title":"Australia Q2 CPI and the cash rate","author":"Colin Twiggs","date":"July 27, 2022","format":false,"excerpt":"The CPI gained 1.8% in the June quarter splitting the difference between the market median of 1.9% and Westpac\u2019s forecast of 1.7%. .....This increase was the second highest since the introduction of the GST and follows on from a 2.1% increase in the March quarter. The annual pace lifted from\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"CPI: Discretionary & Non-Discretionary","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-07-27-westpac-cpi.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-07-27-westpac-cpi.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-07-27-westpac-cpi.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-07-27-westpac-cpi.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":28677,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/11\/05\/rba-monetary-policy-and-the-housing-market\/","url_meta":{"origin":14133,"position":5},"title":"RBA monetary policy and the housing market","author":"Colin Twiggs","date":"November 5, 2021","format":false,"excerpt":"Stephen Bartholomeusz writes that the RBA was forced to abandon its efforts at yield-curve control (YCC) because of bond market resistance: ...Confronted with market rates for the 2024 bonds that made a mockery of its yield target, the RBA had some options. It could have changed the maturity targeted; it\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/14133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=14133"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/14133\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=14133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=14133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=14133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}