Westpac is one of the big four Australian banks. It announced its results for the three months ending 31 December and included remarks on its outlook for this year:
- sees scope for Reserve Bank of Australia monetary policy to become less restrictive within the next year
- expects the
economy to remain resilient, supported by low unemployment and
healthy corporate sector balance sheets - “The economic slowdown, combined with abating inflationary pressures, should provide scope for monetary policy to become less restrictive within the next year”
- “From a credit quality perspective, we saw a reduction in
business stress while a rise in 90+ day mortgage delinquencies
reflects the tougher economic environment”
This article was written by Eamonn Sheridan at www.forexlive.com. Source