‘Not good news’: Interest rates predicted to reach as high as five per cent in 2024
Interest rates could reach as high as five per cent by the end of the year.
It’s believed sticky inflation will force the RBA to lift the cash rate in August, September and November, according to Judo Bank Chief Economic Advisor Warren Hogan.
“The RBA was hoping we wouldn’t get to this point,” Mr Hogan said.
“And look, there is still a chance they may not have to raise rates.
“The economy is showing some sort of signs of recovery this year and that’s not good news.
“We need the economy to remain soft because it has to be soft to get that inflation all the way down.”
Credit to : Sky News Australia