On March 28, Westpac Bank CEO Peter King said that the bank’s economists expect the RBA to raise interest rates one more time.
Westpac’s economics team is now spending more time thinking about how long interest rates will remain at their peak.
Meanwhile, Westpac believes the RBA could cut rates in the first quarter of 2024, with several more cuts to come after that.
King added that it feels like 2023 is a tough time that they need to help people get through.