The Reserve Bank's next interest rate move is more likely to be down than up, economists at National Australia Bank say.
NAB has joined Commonwealth Bank and ANZ in forecasting the cash rate to stay on hold at 4.35 per cent for the rest of 2026, having previously predicted one more hike in August.
Westpac is the last of the big four banks to hang onto its rate rise call, with two more hikes pencilled in for the year.
Recently released GDP data and NAB's business survey, published on Tuesday, showed momentum in the economy has slowed, NAB's chief economist Sally Auld and head of Australian economics Gareth Spence said in a research note.
"The backdrop for the RBA when we look back to February - when they started hiking - was one of growth above its trend pace, or its sustainable pace, with the economy operating above capacity and inflation above target," Mr Spence told AAP.
