The OECD predicts Australia’s official cast rate to remain at 4.35 percent before dropping 0.75 percent between the third quarter of 2024 and the end of 2025.
The Organisation for Economic Co-operation and Development (OECD) says Australians are unlikely to experience any more interest rate rises in 2024.
In a newly released global economic outlook report, the OECD outlined its forecasts for Australia’s economic conditions in the next two years and the likely actions of the Reserve Bank of Australia (RBA).
It then predicted a 0.75 percent drop in the official cash rate between the third quarter of 2024 and the end of 2025.
The OECD cited several reasons for its forecast, including a projected lower budget deficit in 2023 caused by a sharp rise in tax receipts from businesses and households.
It also predicted a slowdown in economic growth in 2024 and 2025 due to the impact of the policies.
The…
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