ANZ becomes the third major bank to push back its forecast for interest rate cuts, signaling prolonged financial strain for borrowers.
Hope you weren’t budgeting for relief this year—ANZ has joined the financial buzzkill club, delaying its prediction for interest rate cuts to checks notes sometime between “maybe later” and “ask again never.” The Reserve Bank’s tight grip remains firmly on, as inflation refuses to sit down and behave, and mortgage-holders across Australia collectively scream into throw pillows.
It’s not just ANZ. NAB and Westpac have already moved the goalposts, proving that in banking, herd mentality is the only thing stronger than interest. The result? Borrowers are bracing for more pain, while renters are stuck in a cost-of-living soap opera that somehow has no ending. Meanwhile, economists toss around words like “resilience” and “soft landing” like those actually help anyone afford eggs.
The real winners here? Bank shareholders, again. Everyone else? Back to Aldi, ditching the smashed avo, and pretending that skipping one Uber ride will save your house. Sources: The Guardian Australia, AFR, ABC News – 23 Apr 2025
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