ANZ sticks to their forecast for a November 2024 interest rat cut from the RBA

In response to higher than expected CPI data from Australia in Q1 2024, ANZ’s take:

  • We think the RBA will want to see a couple of quarters of lower non-tradables and services inflation to be convinced that overall inflation will not only return to the 2–3% target band but remain there,
  • our base case remains a November start to RBA rate cuts
  • today’s Q1 CPI is consistent with the risks around that being skewed towards a later start


The next Reserve Bank of Australia meeting is in the first week of MaY:

This article was written by Eamonn Sheridan at Source