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Australia headed towards economic 'soft landing', says Macquarie CEO
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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 (OTC:MQBKY) 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.
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