Every interest rate cycle produces its own consensus, and this one is no different. The cash rate is at its highest since 2011 and some of the major banks expect it to go higher, while households are gloomier than at any time since the early1990s, including the global financial crisis and pandemic. I’m not so sure that the Reserve Bank of Australia will tell us when it is time. Itnever has, and it won’t now, which means that investors who are waiting for thepermission to turn will likely find the opportunity has passed by.
