It's the question all of Australia – particularly the 3.2 million mortgage holders – desperately want an answer to.
is now particularly careful about providing any public indication of which way it will move, after former governor Philip Lowe's infamous 2021 prediction that the rate was very likely to remain "at its current level until at least 2024".
The staff forecasts are conditioned on the assumption that the cash rate target remains around its current level until mid-2025 before gradually declining over the remainder of the forecast period.READ MORE:The Reserve Bank's forecasts assume rates will stay steady until mid-next year, then slowly decrease.
Monthly data has shown the CPI rising recently. If quarterly stats reaffirm that trend, we could be looking at a 14th increase since May 2022.This is a commonly asked question, but it's one no one knows the answer to – we don't know what rates will be in five months, let alone five years.
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