Interest Rate Cuts 2024 Australia. The official rba cash rate rose by 25 basis points to 4.35% in november 2023, and has been left unchanged by the reserve bank of australia (rba) board for six meetings, including the most recent one on august 6, 2024. The big bank published a weekly report on monday that forecast seven interest rate cuts in 2024 and 2025.
The welcome news for homebuyers and homeowners was tempered by the more immediate forecast that predicted rates would soar to 4.1 per cent in just four months. Cba chief economist stephen halmarick is expecting the rba will start cutting rates in september, with three interest rate cuts expected in 2024 and another three in 2025.
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