RBA might not cut until 2025, says CBA’s Comyn

Lucas Baird, Cecile Lefort, Joshua Peach and James Eyers

Feb 14, 2024 – 4.07pm

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Already a subscriber?

Commonwealth Bank boss Matt Comyn says the Reserve Bank may not cut interest rates until early 2025 because of “persistent” inflation, compounding cost of living pressures for borrowers counting on tax cuts and mortgage relief.

CBA economists predict the RBA will start reducing rates from September, but Mr Comyn told The Australian Financial Review “there is certainly a possibility that could be delayed” until the new year, after US inflation data came in stronger than forecast.

Lucas Baird is a journalist based in The Australian Financial Review's Sydney office.

Cecile Lefort is a markets reporter based in the Sydney newsroom.

Joshua Peach is a data journalist at The Australian Financial Review

James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay