Fitch on the Australian Budget: Negative for banks but impact manageable

US ratings agency Fitch out with a note 10 May

  • contains measures that may negatively affect bank credit profiles but not enough to have an immediate ratings impact
  • measures to increase competition may have greater effect on major banks' credit profiles in longer term

Ryan had all the detail yesterday here

AUDUSD 0.7357 in retreat again after failing above 0.7370

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