Australia's economy shows a modest growth of 0.1% in Q1 2024, the slowest since 1992.

The growth rate fell below expectations, marking the fifth consecutive decline on a per capita basis.

Commonwealth Bank attributes the slowdown to deliberate interest rate hikes aimed at cooling post-pandemic growth.

Despite the soft growth, CBA maintains its interest rate forecasts, hinting at a potential rate cut in November if conditions worsen.

EY's chief economist notes strong demand in certain sectors but expects interest rates to remain on hold to achieve inflation targets.

Reserve Bank Governor Michele Bullock is open to various options, with slower growth potentially leading to rate cuts and inflation to rate hikes.

Treasurer Jim Chalmers highlights the government's support for central bank efforts through budget surpluses and planned household rebates.

Deputy Governor Andrew Hauser will address these economic issues at an upcoming event in Sydney.