NAB is looking for only one more 25bp rate hike from the Reserve Bank of Australia.
- expect a 25bp rate hike at the April 4 meeting
- looking to H1 2024 for the first RBA rate cut ... "We continue to see rate cuts in H1 2024 bringing the cash rate back to 3.1% as the economy slows and unemployment rises"
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The latest (monthly) inflation data from Australia indicates the CPI rate has peaked.
Pic below is from the RBA website:
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ps. We've just had data from Australia, job vacancies in February down 1.5% q/q for the quarter to February 2023.
- the third q/q drop in a row, down 8.7% from the peak, but the demand for workers is nevertheless close to historical highs