According to Jinshi, ANZ has postponed its forecast for the first rate cut by the Reserve Bank of Australia from November this year to February 2025. The bank said the risk is that the easing cycle will start later. ANZ added that a subsequent easing policy is also possible around April 2025, but May is also possible.
The bank maintained its forecast for three rate cuts, but expected the final cut to be delayed until the last quarter of 2025. ANZ added that risks around the degree of easing favored two rate cuts over four.
