Barrage of interest rate cuts may be just around the corner
The economy is at a turning point, with inflation seemingly heading back to its target range and an economic soft landing unfolding, so what does this mean for interest rates in 2024 and beyond?
The Reserve Bank of Australia may take an axe to interest rates later this year and then keep chopping into 2025. (Image source: Shutterstock.com)
Given the resilience in local and global economic growth over recent months - along with continued steady declines in inflation - it appears increasingly likely that a soft economic landing is probable this year.
In Australia, the December quarter consumer price index had dropped to 0.6 per cent on a quarterly basis, and to 4.1 per cent on an annual basis. The domestic rate of inflation has halved over the past 12 months.
Moreover, the 4.1 per…
