Arabic version: رئيس «كومنويلث بنك» يرى أن رفع الفائدة يقترب من نهايته

According to ABC News, Commonwealth Bank chief executive Matt Comyn believes the Reserve Bank has likely finished lifting interest rates for now, although its November meeting remains “live” and another increase is still possible. He said the next move would depend on quarterly inflation data due at the end of October.

Comyn said the September rate rise had been needed because of rising inflationary pressures, including the Middle East conflict and higher fuel prices. He said CBA was seeing the effects of higher rates on customers, with some people facing higher borrowing costs and mortgages cutting spending or savings. The bank had also seen an increase in customers needing financial assistance or struggling to meet repayments.

Despite pressure on households and some businesses from weaker consumer demand, Comyn pointed to 13 per cent growth in business lending during the 2026 financial year. Doubtful debts remained low and well below what he would expect on average, which he linked largely to low unemployment.

He expects property prices to weaken over the year before recovering if interest rates fall next year as expected. Comyn said demand, together with a structural undersupply of housing, would support a rebound. He also called for supply-side reforms to lift productivity, including fewer approval layers and less regulation in some areas, while raising concerns about federal deficits and the pressure they could place on future generations.