Original article by Millie Muroi
The Age – Page: Online : 13-Sep-23

The Commonwealth Bank of Australia’s chief economist Stephen Halmarick says a falling inflation rate means that official interest rates have now most likely peaked. He expects consumer spending to begin to decline by the end of 2023, prompting the Reserve Bank to start easing monetary policy in 2024. Halmarick also forecasts that house prices will rise by seven per cent in 2023 and a further five per cent in 2024, citing factors such as rising migration levels and housing supply constraints. Besa Deda from Westpac also suggests that interest rates may have peaked, and she expects the cash rate to begin falling in the second half of 2024.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, RESERVE BANK OF AUSTRALIA