Despite speculation that the Reserve Bank of Australia (RBA) might raise the official cash rate at its August meeting, ANZ has forecasted that rates will remain unchanged until February 2025, when it predicts a rate cut.

The bank noted that while the Reserve Bank kept the cash rate on hold at 4.35% at its June meeting, the post-meeting statement was slightly more hawkish, with the RBA board stating that they are willing to “do what is necessary” to return inflation to target and will remain vigilant to upside risks in inflation.

“Following the stronger than expected monthly inflation print for May, there has been some talk about the possibility of a hike at the RBA’s August meeting,” ANZ said in its report, authored by economists Sophia Angala, Madeline Dunk and Catherine Birch.

You may read the whole article here:
https://bit.ly/3zD0o29