The latest from NAB on the Reserve Bank of Australia.
NAB forecast the RBA will take its cash rate as high as 3.6% by March next year and will hold it there through until early in 2024
Nab adds it forecasts real GDP to:
- below 1% over thee next 2 years
- “very soft” quarterly growth in the “back end of 2023 … well below trend growth of around 2.25-2.5%”
NAb is one of Australia’s ‘big 4’ banks