Why economists who originally expected multiple deep rate cuts in 2024 now say a hike is possible

• From deeps rate cuts to a potential rate hike in 2024, one firm has changed its forecast in a big way.
• Macquarie said the resilient economy means potential interest rate cuts won't happen until 2025.
• "The next change may be a hike, which would prompt a new wave of broad-based US dollar strength," Macquarie said.

Economists at Macquarie have made a big about-face on their projections for interest rates in 2024.