Why NAB thinks rates will stay high until mid 2025

With a per capita recession currently underway, renters and mortgage holders are feeling the pinch. But the economy appears to be holding up better than expected in many areas, and inflation is still far from the target band. So what now? NAB's Head of Australian Economics Gareth Spence joins the podcast to discuss: the outlook for inflation, unemployment and more why the distribution of economic pain isn’t equal which factors the RBA is keeping a close eye on, and why rates are likely to stay much higher than originally anticipated for a while to come. You can access this and previous episodes of the Your Wealth podcast now on iTunes, Podbean, Spotify or at nabtrade.com.au/yourwealth If you’re short on time, consider listening at 1.5-2x speed, which should be shown on the screen of your device as you listen. This won’t just reduce your listening time; it has also been shown to improve knowledge retention.