Chanticleer

CEOs say you cannot bank on falling interest rates

The big banks are telling customers that interest rate cuts are coming. Their big business clients are less sure.

Dec 14, 2024 – 5.00am

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Australia’s big-bank bosses say interest-rate relief is in sight for borrowers, but other CEOs warn it will take more than just rate cuts to stimulate economic growth, fuel business investment and boost living standards.

The CEOs of Commonwealth Bank, National Australia Bank, Westpac and ANZ are tipping two to three interest rate cuts next year, agreeing the first cut should come within six months and be followed by at least another cut in the second half.

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.