Australia headed towards economic 'soft landing', says Macquarie CEO

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 9/2/2026

1. SPY
2. MDT
3. DELL
4. AAPL
5. SPGI
6. USO
7. ENOV
8. PANW
9. AON
10. NIO

March 10, 2024 11:31 PM EDT

FILE PHOTO: Chief Executive of the Macquarie Group Shemara Wikramanayake, is seen in this handout picture taken in Sydney, Australia in 2022 released on May 5, 2023. Macquarie Group and Alice Boshell/Handout via REUTERS/File Photo

SYDNEY (Reuters) - Australia's economy is set up for interest rate cuts in 2024 and a "soft landing" after a lengthy period of inflation, Macquarie Group CEO Shemara Wikramanayake said on Monday.

The country's unemployment rate was just below its pre-COVID level and inflation had slowed, Wikramanayake noted at the Australian Financial Review Business Summit.

"Central bankers seem to be getting to a point where they can now reduce rates later this year and deliver that soft landing that really none of us were forecasting," she said.

(Reporting by Byron Kaye; Editing by Jamie Freed)


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Reuters

Related Entities

Macquarie Group