In the RBA's latest statement of monetary policy (SOMP), it read 'Inflation is forecast to decline to around 3.5% by the end of 2024 and to reach a little below 3% at the end of 2025'.
While most economists are tentatively saying the RBA won't need to raise rates again, it's not at all inconceivable that it might, and any rate cuts look a long way off. Judo Bank increases rates up to 20 basis pointsĪMP increases rates up to 35 basis points Westpac and its subsidiaries increase rates by 25 basis pointsįirstmac/Goldfields Money increase rates up to 55 basis pointsĬommunity First hikes special offer rate by 25 basis points
