Brace for more steep rate rises, but will predicted 2023 interest rate cuts cool recession fears?

With the jobs market booming and unemployment the lowest in almost fifty years, you might think there'd be champagne corks popping about a strong economy. 

Instead, borrowers leveraged up with big mortgages are bracing for higher interest rates as the Reserve Bank signals more rates pain ahead as it tries to tame runaway inflation. 

But Australia's biggest home lender, the Commonwealth Bank, is predicting interest rate cuts in late 2023 after economy reels from significant tightening.

I speak with Tom Oriti on ABC Newsradio