Australians to face ‘pain’ on interest rates but there is ‘light’ on horizon

Bondi Partners Senior Advisor Peter McGauran says there will still be “tough going and pain” on interest rates in 2024, but there is a “light on the horizon”, although it is a distant horizon. The Reserve Bank of Australia left the cash rate unchanged at 4.35 per cent at their meeting on February 7. “People are generally aligned on the belief that they will begin to be cut towards the end of the year,” Mr McGauran told Sky News Australia. “If it is September, we’ll be lucky. “There’s still going to be tough going and pain, but there is a light on the horizon, but it’s pretty distant horizon.”