ANZ on questioning the RBA commitment to not hike the cash rate until 2024
ANZ have upgraded their unemployment forecast for Australia:
- expect Australia's unemployment rate to fall to 4.8% by end-2021
- to 4.4% by end-2022
- Lower again in 2023 seems likely
The implication for the Reserve Bank of Australia is:
- This upgrade potentially challenges the RBA's expectation a rate hike is "unlikely to be until 2024 at the earliest"