Just in from National Australia Bank:

NAB are one of Australia's 'big 4' banks. Here's what the others expect from the Reserve Bank of Australia:

Westpac:

  • expect a pause at next week's meeting, April 4
  • expect a 25bp rate hike at the May meeting (May 2)
  • expect a peak cash rate of 3.85% like NAB do
  • expect that the RBA will start cutting its cash rate in Q1 2021

Commonwealth Bank of Australia:

  • expect a +25bp rate hike at the April 4 meeting and that's the final of the cycle
  • and thus expect the cash rate to peak at 3.85%
  • expects 50bp of rate cuts in late 2023, then another 50bp of cuts in H1 of 2024

ANZ:

  • expect a +25bp rate hike at the April 4 meeting
  • expect a 25bp rate hike at the May meeting (May 2)
  • expect the peak rate to be 4.1%
  • expect the RBA to start easing with 25bp cut in November 2024
Philip Lowe gives a back hand slap to rate rises

Reserve Bank of Australia Governor Lowe