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"
rba
