The Forward View Australia December 2025: missing the approach - NAB

18 December 2025
Economy and Markets

Economic outlook and trends

  • The economy looks to be ending 2025 with private sector growth strong and the labour market healthy. 
  • Inflation is expected to track above 3% for a number of quarters with the Q4 trimmed mean likely to surprise the RBA again.
  •  We now expect rates to rise in H1 2026, in a modest recalibration of policy.

For the full detail, read the report here (PDF, 1MB).

Related Articles

NAB Housing Monitor - November 2026

Housing

Dwelling prices across the combined capitals declined for a seventh consecutive month, falling 1.4% in October to be 8.1% below their March 2026 peak.

11 November 2026 | 3 min read

NAB Monthly Business Survey: Order books thin as business sentiment slips again

Economy and Markets

Business confidence and conditions both fell again in October, and a sharp drop in forward orders suggests tougher trading ahead, according to the latest NAB Monthly Business Survey.

10 November 2026 | 2 min read

RBA rate rises may be over but global risks remain

Economy and Markets

NAB chief economist Sally Auld says the Reserve Bank of Australia (RBA) has likely finished raising interest rates after five increases this year.

09 November 2026 | 2 min read

Contact us

Media Enquiries

For all media enquiries, please contact the NAB Media Line on +61 3 7035 5015