It is very uncertain, that's for sure. Even the best economists in the world have a very poor track record of trying to predict cash rate movements, so one has to hold these things with open hands.
But in my mind it's a bit silly to ask "what if interest rates again peak around 17%" - there are a lot of very big differences between now and what we saw in the 70s/80s. If interest rates peak around 17%, the entire Australian (and world) economy would be obliterated. Debt levels are way higher than they were back then, so we won't see interest rates anywhere near 17%. But lower interest rates have a much more serious effect on markets because of how much more indebted everone is nowadays.
CLW dropping, page-55
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