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.