Westpac says the rate hike cycle in Australia is over.
RBA now on hold until first rate cut in September 2024
- The RBA is now confident that the latest data points to it achieving its inflation target by mid 2025;
- hurdle for more rate hikes looks very high;
- especially given that the economy is likely to continue operating well below trend despite a tight labour market
This article was written by Eamonn Sheridan at www.forexlive.com. Source