Australia’s Official Cash Rate Unlikely to Increase in 2024: OECD

Published on December 1, 2023

The Organisation for Economic Co-operation and Development (OECD) says Australians are unlikely to experience any more interest rate rises in 2024. In a newly released global economic outlook report, the OECD outlined its forecasts for Australia’s economic conditions in the next two years and the likely actions of the Reserve Bank of Australia (RBA). The report stated that despite the rapid rise of Australia’s official cash rate, which grew from the historic low of 0.1 percent to the current 4.35 percent, the RBA would likely hold rates until inflation showed signs of declining to the target range of two to three percent....

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