Westpac CEO Peter King predicted the Reserve Bank of Australia will cut the cash rate “within the next year” in a nod to the economic slowdown and as inflation inches closer to target.

The bank’s top forecaster, former RBA assistant governor Luci Ellis, has pencilled in a September start for monetary easing. Last week, CBA CEO Matt Comyn warned the RBA might not start cutting rates until early 2025 as the inflationary picture is muddied by surprise strength in late-cycle price pressures.