With ongoing interest rate rises, cost of living pressure and stagnant wages, economists have found that middle Australians are working harder than ever but getting less in their pay packet pre-COVID.
KPMG Australia’s Chief Economist Dr Brendan Rynne joined Sky News Australia to discuss the cost of living crisis in Australia.
Mr Rynne says he is “pretty confident” Australia will see interest rates cut in the second half of this year.
“Inflation is going to come down relatively quickly this year,” he said.
“Such that by the end of the year it’s probably still going to be the on the top end of the RBA target band … but that’s going to allow the Reserve Bank to bring interest rates back down.”
( SkyNews )
