Australian Bank Earnings Likely to Gain as Rates Rise Faster Than Expected -- Market Talk

Dow Jones2022-07-18

0534 GMT - Despite very high house prices in Australia, the fear of elevated defaults as well as a rapid slowdown in consumption are being very much overplayed by the market, say Citi analysts Brendan Sproules and Akshat Agrawal in a research note. The investment bank thinks above-median household income provides increased flexibility to meet repayments. "Without a significant rise in unemployment, we expect any housing losses will likely be mild and not inconsistent with last 30 years," says Citi. It maintain its positive sector view on the Australian banks, and in the absence of material asset-quality concerns, it expects earnings will continue to be revised upwards as rates rise higher and faster than initially anticipated. (alice.uribe@wsj.com)

$(END)$ Dow Jones Newswires

July 18, 2022 01:34 ET (05:34 GMT)

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jacentah bobongie
2022-08-05
jacentah bobongie
Great article! I would like to share it.

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