After the inflation report for the fourth quarter of 2024 came in below expectations, Westpac Bank now expects the Reserve Bank of Australia to begin cutting interest rates in February. The institution believes that while monetary policy decisions typically rely on a wide range of data, this time, given the mixed signals from other economic Indicators, CPI has become the decisive factor. Westpac Bank believes there is now sufficient evidence to suggest that the pace of inflation decline is faster than the Reserve Bank of Australia's expectations. Therefore, it is anticipated that the central bank will gain the confidence needed to initiate a rate-cutting cycle at its meeting in February. Westpac Bank initially expected the first interest rate cut in May 2025 but maintains that a rate cut could occur earlier in February. Currently, the stronger-than-expected decline in inflation tilts the balance of possibilities toward a rate cut in February. Westpac Bank's current baseline scenario anticipates further rate cuts in May, August, and November, with the cash rate expected to drop to 3.35% by the end of the year.
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西太平洋银行:将澳洲联储的降息预测调整为2月
Westpac Bank: Adjusts the Reserve Bank of Australia's interest rate cut forecast to February.
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