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

rba

Source: https://www.forexlive.com/centralbank/westpac-says-reserve-bank-of-australia-now-on-hold-until-first-rate-cut-in-september-2024-20230803/