RBA’s next move more likely down than up but probably not until 2025

Shoppers and businesses might feel like they are paying through the nose but economic data is showing some positive signs. Photograph: Lukas Coch/AAP

Australia’s economy might not feel miraculous to households and businesses on the brink, but there is definitely an element of mystery about how it’s actually travelling.

Contrary to more hawkish forecasters, the Reserve Bank on Tuesday did not adjust its settings to imply its next move would be an interest rate rise.