ANZ said in a statement that it raised the Reserve Bank of Australia's interest rate forecast and added another rate hike forecast. ANZ currently predicts that the Reserve Bank of Australia will raise interest rates by 25 basis points in September and November, respectively, to push cash interest rates to 4.85%, the highest level since 2008. The bank still expects the first rate cut to be implemented in November 2027, followed by another 25 basis points in February 2028. ANZ economists Adam Boyton and Jack Chambers said, “Given the rapid rise in inflation after the end of the previous easing cycle, we expect the Reserve Bank of Australia to maintain a slow and cautious pace when it finally cuts interest rates.”

ANZ said in a statement that it raised the Reserve Bank of Australia's interest rate forecast and added another rate hike forecast. ANZ currently predicts that the Reserve Bank of Australia will raise interest rates by 25 basis points in September and November, respectively, to push cash interest rates to 4.85%, the highest level since 2008. The bank still expects the first rate cut to be implemented in November 2027, followed by another 25 basis points in February 2028. ANZ economists Adam Boyton and Jack Chambers said, “Given the rapid rise in inflation after the end of the previous easing cycle, we expect the Reserve Bank of Australia to maintain a slow and cautious pace when it finally cuts interest rates.”