Interest rate cuts could deliver good news for millions of Aussies in 2024


Economists and financial markets are betting on 2024 to bring long-awaited relief to millions of Aussies in the form of falling interest rates. The official cash rate ended 2023 at 4.35 per cent, and financial markets see a 25 per cent chance of an interest rate cut by March. However, forecasts of a cut by June are much more widespread, with finance traders forecasting the Reserve Bank of Australia (RBA) will slash the cash rate twice before the end of 2024. The confidence among financial markets that interest rates in Australia will fall sooner rather than later stems from moves in the US. In mid-December, the US Federal Reserve flagged that its cycle of increasing interest rates has likely come to an end, with predictions that interest rates there will fall five times in 2024, with interest rates in the UK and Europe predicted to fall six times this year.

For further information, click here - https://www.news.com.au/finance/economy/interest-rates/interest-rate-cuts-could-deliver-good-news-for-millions-for-aussies-in-2024/news-story/1659a861aac19d33c8ef4f01f2943696

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