No interest rate relief predicted this year, major bank tells mortgage holders

Until Monday, the ANZ was in line with CBA, NAB and Westpac in forecasting that a RBA cut would land this November. Photograph: Esther Linder/AAP

ANZ became the first of the big four banks to push their prediction of a Reserve Bank interest rate cut into 2025, adding to signs mortgage relief may still be some way off.

The bank now expects the first RBA cash rate reduction to come in February. Until Monday, the ANZ was in line with CBA, NAB and Westpac in forecasting that a cut would land this November.