There is renewed hope of a significant rate cut in 2024.
The Commonwealth Bank expects the RBA will reduce the cash rate by 75 basis points.
It will take rates down from 4.35 per cent to 3.6 per cent by the end of 2024.
The bank also predicts cuts will continue in 2025, but some economists are not as optimistic.
“Inflation is heading in the right direction, but I’d want to see maybe a little bit more evidence that it really is coming back under control,” REA Group Senior Economist Angus Moore.