Hi want2bewealthy,
The last event that had a major effect on interest rates was the Global Financial Crisis. Do you know anyone who forecast the GFC two years in advance? I dont. Certainly the Reserve Bank didn't forcast the GFC because they were raising rates at the time the GFC became evident. Therefore if the Reserve Bank are making such predictions my guess is that would be for reasons other than accuracy in forecasting. Basically they are trying to influence our behaviour without actually knowing what's going to happen.
The last event that had a major effect on interest rates was the Global Financial Crisis. Do you know anyone who forecast the GFC two years in advance? I dont. Certainly the Reserve Bank didn't forcast the GFC because they were raising rates at the time the GFC became evident. Therefore if the Reserve Bank are making such predictions my guess is that would be for reasons other than accuracy in forecasting. Basically they are trying to influence our behaviour without actually knowing what's going to happen.