Westpac Bank: Reserve Bank of Australia will cut interest rates for the first time in May next year

Golden Ten data November 21st news, West Pacific Bank now expects the Reserve Bank of Australia to start cutting interest rates in May next year, later than the previous forecast of February. Chief economist Luci Ellis said, “Similar to some peers’ forecasts, we expect the initial rate cut action to be somewhat ahead, with consecutive rate cuts expected at the end of May and early July.” This is different from the previous expectation of West Pacific Bank’s quarterly rate cut. However, West Pacific Bank still expects the Faiz Oranı to drop from the current 4.35% to a lower limit of 3.35% by the end of next year.