ANZ Research reports a broadening economic slowdown in Australia, prompting forecasts for RBA rate cuts starting in 2027. The housing market continues to face significant downward pressure.
Key Takeaways
- 1.The RBA kept the cash rate at 4.35% in June, with ANZ expecting rate cuts to commence in 2027.
- 2.Economic growth in Australia is forecast to slow to 1.1% in 2026 and 1.6% in 2027 due to higher interest rates and housing market weakness.
- 3.Housing market indicators show continued weakness, with falling prices and low auction clearance rates in capital cities.
Table of Contents
- Rates and policy: Unchanged in June; Rate cuts expected in 2027
- Australian data: Forecast updates, continued weakness in housing
- Global: Oil recovery stalls; monetary tightening abroad
- Data releases
- Key Charts
- Recently published reports
- Forecasts
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Authors
Siddhant KalraJasmine Zheng
Securities
AUD/USD
Themes
Economic SlowdownHousing Market DownturnMonetary Policy Easing
Regions
Asia PacificAustraliaUnited StatesNew Zealand