The Reserve Bank of Australia (RBA) is anticipated to maintain its cash rate at 4.35% due to decreasing home-price growth and easing inflation. RBA Governor Michele Bullock is expected to continue the hawkish stance, with concerns about emerging second-round effects of inflation in Australia. This contrasts with the Federal Reserve's potential easing cycle, while New Zealand and the UK are also expected to ease policy by mid-2024. Despite easing inflation for October and slowing house-price gains, underlying pressures persist, with changes to the meeting process starting February 2024.

Australia's Central Bank Holds Rate