Australia's major bank rules out odds of rate cut in 2024

SYDNEY, June 11 (Xinhua) -- One of Australia's four major banks has ruled out the possibility that the country's Reserve Bank would cut its cash rate target this year.

"Since November 2022, we have expected that the first cash rate cut in Australia this cycle would be in November 2024. More recently, however, we have been cautioning that the risks around that view were skewed to a later start to the easing cycle