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"
Reserve Bank of Australia RBA
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