Taylor Nugent

speaker

7,962 appearances 80 recordings 1 series first heard Sep 2024 last heard 27 Aug

Taylor Nugent’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 36 in all, peaking in Nov 2025 with 5.

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NAB Morning Call · Oil falls further, RBA holds · 16 Jun 2026 podcast

A tightening at this meeting was well telegraphed and was delivered. voice-verified

And so, you know, I think what we've seen in terms of what gave them comfort to deliver the increase at this meeting, it was some uh easing in those downside growth uh risks uh that were emanating from kind of the global backdrop and um and just kind of continued comfort that those kind of positive wage price spikes. voice-verified

Developments as um as they've framed them are kind of continuing to come through. voice-verified

And so that's supported at additional normalization in terms of how far they go. voice-verified

They are still a little bit below their um their their kind of range of nominal neutral estimates, but you know, they continue to get closer. voice-verified

The kind of midpoint of their nominal neutral range estimates is somewhere around one and three-quarter percent. voice-verified

So, you know, another 25, 750 basis points from here, and that frame. voice-verified

That um this is just kind of normalization progressing towards neutral uh starts to get a a little a little murkier. voice-verified

Um, but you know, direction of travel still higher. voice-verified

The other thing to call out there, which was again near expectations and feeding into that very little market reaction that we got uh was on the on the balance sheet um that they announced with you know one you know additional small taper after um after March that they would pause the voice-verified

the tapering of their their asset purchases and kind of keep them steady at around 2 trillion a month, 2 trillion yen a month uh from April. voice-verified

So, you know, that might sound like at face value, very, very large purchases for a central bank that's tightening, but it's worth remembering that the Bank of Japan reports those in terms of gross purchases. voice-verified

So that's still consistent uh with a balance sheet that is shrinking with um with the kind of previous purchases rolling off. voice-verified

Yeah, I mean, you know, with the risk of of sounding like a a broken record that the kind of domestic demand side is is weak and growth is being held up by kind of external demand and um and the trade side with the those kind of, you know, supply and kind of manufacturing and and IP numbers uh looking much healthier than kind of, you know, pretty pretty sickly domestic uh consumption numbers and and suddenly kind of continued weakness through kind of the domestic construction and property construction. voice-verified

um in particular as well. voice-verified

So all of those themes still still very much evident in the numbers. voice-verified

I think the the kind of National Bureau statistics statement uh summarized it all pretty well. voice-verified

They said that the external environment is increasingly complex and volatile and the domestic imbalance between strong supply and weak demand is acute. voice-verified

Um so yes that um that still remains. voice-verified

In terms of the specifics, we did get retail sales falling, um which was which was notable. voice-verified

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