Aussie banks margins seen falling; outlook key in high-rate environment
Australia's biggest banks are likely to report narrower profit margins in the June quarter as an unprecedented pace of interest rate hikes to curb inflation starts to weigh on the economy, while investors will be watching for signs of rising bad debt. Commonwealth Bank of Australia, National Australia Bank, Westpac and ANZ Group, which benefited over the past year from policy tightening, now face headwinds from rising costs and unemployment, which could result in fewer new loans and more bad debt. The Reserve Bank of Australia last week held rates steady for a second straight month at 4...
Source: yahoo.com