The RBA leaves rates on hold - are we at the top?


Please click here to read Shane Oliver's views on interest rates in Australia.

Key points raised are 

  • At it's December meeting the RBA left rates on hold but retained a tightening bias 
  • Our concern remains that the RBA has tightened more than necessary with a risk of recession next year
  • There still is a risk of another rate hike - which if it occurs would most likely be at the next meeting in February after December quarter inflation data is released 
  • However, our base case is that the RBA has reached the top and we see it cutting rates in the second half of 2024.