Westpac changes its forecast to a February Reserve Bank of Australia interest rate cut ...Middle East

With trimmed mean inflation at 0.5% for the quarter (3.2% year-on-year), Westpac believes there is now sufficient evidence to suggest disinflation has progressed faster than the RBA had anticipated. As a result, the central bank is expected to gain the confidence needed to initiate a rate-cutting cycle at its February meeting.

Beyond the next meeting, the bank expects the RBA to remain data-dependent and take a measured approach to further easing. Westpac’s baseline scenario now projects additional rate cuts in May, August, and November, bringing the cash rate down to 3.35% by year-end. This marks a return to Westpac’s earlier rate trajectory, as recent economic trends align with their initial forecasts, rather than the more hawkish stance on domestic cost pressures that previously suggested a prolonged period of restrictive policy.

Reserve Bank of Australia Governor Bullock

This article was written by Eamonn Sheridan at www.forexlive.com.

Read More Details
Finally We wish PressBee provided you with enough information of ( Westpac changes its forecast to a February Reserve Bank of Australia interest rate cut )

Also on site :

• Taylor Swift's Ex Seemingly Shades Pop Star During Glastonbury Set
• Hit Rock Band Pulls Out of Glastonbury Last Minute After 'Unfortunate Development'
• Adam Sandler Surprises Fans by Bringing Back Iconic Character 29 Years Later