CBA has recently come out with a prediction that interest rates will drop by 0.75% in 2024.

If this forecast is correct, interest rates will be down to 2.85%.

CBAs chief economist Stephen Halmarick was very positive in his latest address. He stated that Australia’s economic outlook looked very bright. Global inflation had begun to decelerate and it was hoped that Australia would bring its inflationary figures back down to between 2 and 3%. He anticipated that the RBA would start to ease monetary policy and things started to ease.

Hopefully Mr Halmarick is right. It appears that over the last few years the government both at a state and national level have made a total mess of the economy by fueling inflation through ridiculous grants and handouts. Further advising the nation that interest rates will not go up until 2024. Then making home owners alone pay the price by jacking up interest rates at the fastest rate in history.