Last week, we changed our cash rate forecasts on the back of a lower-than-expected inflation outlook. Today we released our latest local and global forecasts (Forward View – January 2024) ahead of the RBA Board meeting next week. As can be seen in our December Business Survey, growth slowed sharply in late 2023. Business conditions have returned to their long run average after a period of very strong outcomes through late 2022 and H1 2023. Both profitability and trading conditions are now below average, with the overall result propped up with a still healthy read for employment. That said retail and consumer-related ... (full story)