{"id":823,"date":"2011-09-19T00:03:56","date_gmt":"2011-09-19T04:03:56","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=823"},"modified":"2011-09-19T00:03:56","modified_gmt":"2011-09-19T04:03:56","slug":"rbnz-throws-cold-water-on-rba-macrobusiness-com-au","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/19\/rbnz-throws-cold-water-on-rba-macrobusiness-com-au\/","title":{"rendered":"RBNZ throws cold water on RBA – macrobusiness.com.au"},"content":{"rendered":"

What should be clear…… is that the growth in Australian housing values has been funded, to a large extent, by foreign borrowings, much of it short-term.<\/p>\n

A key risk going forward is that the banks\u2019 ability to refinance their borrowings rests with the willingness of foreign investors to continue to lend them money. But in times of heightened risk-aversion \u2013 such as the impending European debt crisis \u2013 foreign investors can become nervous and less inclined to continue extending credit, which could leave Australia\u2019s banks, house prices, and broader economy exposed to a sudden funding freeze.<\/p><\/blockquote>\n

via RBNZ throws cold water on RBA – macrobusiness.com.au<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

What should be clear…… is that the growth in Australian housing values has been funded, to a large extent, by foreign borrowings, much of it short-term. A key risk going forward is that the banks\u2019 ability to refinance their borrowings rests with the willingness of foreign investors to continue to lend them money. But in … <\/p>\n

Continue reading “RBNZ throws cold water on RBA – macrobusiness.com.au”<\/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],"tags":[290,381,1732,2552],"class_list":["post-823","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","tag-australia","tag-banks","tag-housing","tag-offshore-funding"],"yoast_head":"\nRBNZ throws cold water on RBA - macrobusiness.com.au - 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=\"RBNZ throws cold water on RBA - macrobusiness.com.au - the patient investor\" \/>\n<meta property=\"og:description\" content=\"What should be clear…… is that the growth in Australian housing values has been funded, to a large extent, by foreign borrowings, much of it short-term. 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Exports continue to climb, especially in the Resources sector. Manufacturing is the only flat spot. Business investment remains weak and is likely to impact on long-term growth in both profits and wages. The decline is particularly steep in the Manufacturing sector\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15280,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/14\/rba-stuck\/","url_meta":{"origin":823,"position":1},"title":"RBA stuck","author":"ColinTwiggs","date":"May 14, 2017","format":false,"excerpt":"Great slide from the NAB budget presentation: The RBA is in a cleft stick: Raising interest rates would increase mortgage stress and threaten stability of the banking system. Lowering interest rates would aggravate the housing bubble, creating a bigger threat in years to come. The underlying problem is record high\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9858,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/05\/22\/norway-teaches-britain-how-to-choke-house-booms-without-killing-economy-telegraph-blogs\/","url_meta":{"origin":823,"position":2},"title":"Norway teaches Britain how to choke house booms without killing economy \u2013 Telegraph Blogs","author":"ColinTwiggs","date":"May 22, 2014","format":false,"excerpt":"Ambrose Evans-Pritchard reports the resounding success of Norway's central bank in using macroprudential tools to take the steam out of a housing bubble: if the Bank [BOE] wishes to contain credit, it should learn from Norway\u2019s success. Instead of raising rates, it has used \u201cmacroprudential\u201d tools. It cut the loan-to-value\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Norway\/UK House Prices","src":"https:\/\/i0.wp.com\/blogs.telegraph.co.uk\/finance\/files\/2014\/05\/ambchart2-460x224.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2544,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/the-rba-gets-hawkish-on-asset-prices-macrobusiness-com-au\/","url_meta":{"origin":823,"position":3},"title":"The RBA gets hawkish on asset prices – macrobusiness.com.au","author":"ColinTwiggs","date":"December 5, 2011","format":false,"excerpt":"I believe that the RBA is determined to prevent any reinvigoration of the Australian housing bubble....... yesterday we had [] confirmation that the bank is structurally remodelling itself as an asset price hawk, with the appointment of Phil Lowe to the deputy governorship. In 2002, whilst working at the BIS\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7386,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/04\/01\/has-australia-hit-the-floor-with-interest-rates\/","url_meta":{"origin":823,"position":4},"title":"Has Australia hit the floor with interest rates?","author":"ColinTwiggs","date":"April 1, 2013","format":false,"excerpt":"Izabella Kaminska made a strong argument on FT Alphaville last year for the RBA to lower interest rates and weaken the Australian Dollar to protect manufacturing and export industries: Australia\u2019s current account deficit coupled with a deeply negative net external debt position both provide strong fundamental impetus for currency weakening.\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7281,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/25\/rbnz-steps-closer-to-macroprudential-macrobusiness\/","url_meta":{"origin":823,"position":5},"title":"RBNZ steps closer to macroprudential | MacroBusiness","author":"ColinTwiggs","date":"March 25, 2013","format":false,"excerpt":"Houses & Holes at Macrobusiness reports on macroprudential steps being considered by the RBNZ. Macroprudential regulation\u00a0are measures aimed to mitigate the risk of the financial system as a whole, or systemic risk, as opposed to the risk to individual participants. The [Reserve Bank of New Zealand] says it wants to\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & 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\/823","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=823"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/823\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}