World near peak of interest rate cycle -HSBC Australia CEO By Reuters

© Reuters. FILE PHOTO: HSBC logo is seen on a branch bank in the financial district in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid/File Photo/File Photo

SYDNEY (Reuters) – Central banks in the U.S. and Australia are close to pausing rate increases as they strike a balance between financial stability and inflation fighting, HSBC Australia Chief Executive Antony Shaw said on Tuesday.

“We do think that balance between making sure inflation is not entrenched for the remainder of 2023 and 2024 but at the same token first and foremost maintaining financial stability, will be met by the central banks both in Australia and in the U.S. in the coming months,” said Shaw at the Australian Financial Review Banking Summit in Sydney.

“That’s why I think we are much closer to a pause and much closer to peak terminal rates.”

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