Reserve Bank could hold rates next week and start cutting in July: Bank of America
Investment bank says apparent end of the Federal Reserve’s current tightening cycle bodes well for local rates
Bank of America (BofA) has revised its earlier forecast that the Reserve Bank will hike interest rates when its monetary policy committee (MPC) sits for its last meeting of the year next week. It now expects the central bank to start slashing borrowing costs from July.
Tatonga Rusike, a member of the economics team at BofA Global Research, said they now expect the Bank to hold rates steady at the November 23 meeting and throughout the first half of 2024...
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