Pacific Investment Management said that although Australia's recent data is better than expected, it is currently impossible to determine that the Reserve Bank of Australia's interest rate cut cycle is over. Adam Boway, the company's executive vice president and head of Australian portfolio management, wrote in a report: “Australia's monetary policy remains tight, which will put pressure on economic growth and inflation in the coming year.” Beauvais pointed out that when the Reserve Bank of Australia's cash interest rate reached a recent peak of 4.35%, the country experienced a two-year per capita recession. “At the current cash interest rate of 3.60%, the share of household income used to pay debts and pay taxes is still close to the highest level ever.”

Pacific Investment Management said that although Australia's recent data is better than expected, it is currently impossible to determine that the Reserve Bank of Australia's interest rate cut cycle is over. Adam Boway, the company's executive vice president and head of Australian portfolio management, wrote in a report: “Australia's monetary policy remains tight, which will put pressure on economic growth and inflation in the coming year.” Beauvais pointed out that when the Reserve Bank of Australia's cash interest rate reached a recent peak of 4.35%, the country experienced a two-year per capita recession. “At the current cash interest rate of 3.60%, the share of household income used to pay debts and pay taxes is still close to the highest level ever.”