2024 Interest Rate Predictions Australia. Anz has predicted a peak of 4.35 per cent by august then a drop to 4.10 per cent by november, 2024. Westpac economists predict that the current level of 4.35% will be the peak of the cash rate, and that we might expect the first rate cuts to occur around november, with a cut.
The major bank believes the cash rate will be lowered by 0.75 per cent by the reserve bank of australia (rba) over 12 months, starting in september 2024. Will interest rates rise in 2024?