Goldman Sachs “base case is for the RBA to start easing in November 2024”

A note from Goldman Sachs with their forecast for the Reserve Bank of Australia.

Info via Bloomberg (gated), in brief:

Goldman Sachs projects three RBA rate cuts by July 2025

• taking the cash rate to 3.6%

GS cite:

• softer inflation data over the coming quarters (rise in mortgage rates for Australians has outpaced global peers in both speed and magnitude)
• ongoing cooling in the labor market (unemployment will rise to 4.6% by end 2024)
• likelihood of easing cycles across key G-10 peers

This article was written by Eamonn Sheridan at www.forexlive.com.