Posted 2/4/2024, 1:02:00 AM
Rates Staying High, Inflation Slow to Fall in 2024: Modest Growth, Rising Joblessness, Cooling Housing
- Interest rates expected to stay high in the first half of 2024 before modest cuts later, providing little mortgage relief
- Inflation forecast to keep falling but more slowly, reaching around 3.5% by end of 2024
- Economic growth staying weak at around 1.7% in 2024, risking a per-capita recession
- Unemployment tipped to climb to around 4.3% in 2024 from near 50-year lows
- House price growth slowing to around 3-5% in 2024 from double digits in 2023
