Australia's major banks, including Commonwealth Bank and Westpac, are facing changes in profits and interest rates. Commonwealth Bank CEO Matt Comyn hopes for economic normalization once inflation is controlled. RBA board members discuss potential rate cuts before reaching inflation targets. Westpac reports a decline in first-quarter profits compared to previous averages, with CEO Peter King anticipating lower interest rates in Australia. The Reserve Bank of Australia considers interest rate hikes but opts for a pause to monitor inflation levels.
More rate hikes are still on the cards after the Reserve Bank revealed it considered whether to raise interest rates when it met earlier this month. > https://t.co/whdXscGsBo https://t.co/nhlZMQ999t
Australia’s central bank considered raising interest rates at its first meeting of the year but decided the case to stand pat was the “stronger one” https://t.co/QlFWItm1I6
⚠️ AUSTRALIA CENTRAL BANK NEEDED "SOME TIME" TO BE CERTAIN ON INFLATION DECLINE Full Story → https://t.co/F0ATx928lr
RBA Minutes: Board Considered Interest-Rate Hike, Saw Pause Case As Stronger - Needed ‘Some Time’ To Be Certain On Inflation Decline
🔴 RBA: BOARD NEEDS MORE TIME TO GAIN CONFIDENCE IN INFLATION LEVELS
Westpac sees monetary policy 'less restrictive' over next year, Q1 profit drops https://t.co/Yu3ZTOaC7p https://t.co/xL7aHcawmo
Westpac saw a reduction in stressed assets as it reported profit for the quarter, with CEO Peter King noting that Australian interest rates will likely decrease over the coming year https://t.co/9rKTjbviGC
Australia's Westpac first-quarter profit falls from its prior six-month quarterly average https://t.co/RU01d6pIt5 https://t.co/H10iqUELRx
⚠️ AUSTRALIA'S WESTPAC FIRST-QUARTER PROFIT FALLS FROM ITS PRIOR HY QUARTERLY AVERAGE Full Story → https://t.co/QN8bZzlSu7 https://t.co/iauMDg69GR
Australia rate cut before inflation hits target: RBA board member https://t.co/lywUT41ooE
Commonwealth Bank Chief Executive Matt Comyn says “hopefully” once inflation is under control Australia can get back to normal economic scenario and growth. https://t.co/sF02SOHJtu