Back to today’s briefing

Story perspectives

Inflation Hits 3.2% as Rate Cuts Anticipated in 2024

11/3/2025

50 3 Full Breakdown

Summary

Story summary

Inflation remains above target as the consumer price index (CPI) rose to 3.2% in September.
Australia and New Zealand Banking Group Limited (ANZ) expects a rate cut in February.
National Australia Bank (NAB) and Westpac Banking Corporation (Westpac) expect a rate cut in May.
The Reserve Bank of Australia (RBA) is likely to hold the cash rate at 3.6%.
Analysts say this stability could slow market activity.

History

Historical Context

In the late 1970s, the U.S. faced a severe inflation crisis, with the consumer price index reaching 13.5% in 1980. To combat this, Federal Reserve Chairman Paul Volcker raised interest rates to 20%, leading to a recession. This historical context mirrors current inflation concerns in Australia, where the CPI stands at 3.2%, prompting banks like ANZ and NAB to anticipate rate cuts.

1 of 2

Story summary

Inflation remains above target as the consumer price index (CPI) rose to 3.2% in September.
Australia and New Zealand Banking Group Limited (ANZ) expects a rate cut in February.
National Australia Bank (NAB) and Westpac Banking Corporation (Westpac) expect a rate cut in May.
The Reserve Bank of Australia (RBA) is likely to hold the cash rate at 3.6%.
Analysts say this stability could slow market activity.

1 / 2