Westpac, one of Australia's leading banks, reported a decrease in its first-quarter profit compared to its prior six-month quarterly average, attributed to notable items related to hedge accounting. Despite this downturn, the bank observed a reduction in stressed assets. CEO Peter King commented on the future of Australian interest rates, suggesting they are likely to decrease over the coming year. Additionally, Westpac anticipates a 'less restrictive' monetary policy moving forward.
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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
Westpac. Lower profits due to notable items related to hedge accounting. Not a hedge then. If you want a good hedge, go to a garden centre. https://t.co/ZCQCrFFT9t https://t.co/C0siUe8FJr
⚠️ AUSTRALIA'S WESTPAC FIRST-QUARTER PROFIT FALLS FROM ITS PRIOR HY QUARTERLY AVERAGE Full Story → https://t.co/QN8bZzlSu7 https://t.co/iauMDg69GR