Tag: interest rate cut
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Home Loan Market Competition Intensifies Amid Anticipated Rate Cuts
Competition in the home loan market is intensifying as lenders gear up for the Reserve Bank’s upcoming board meeting, where a 0.25% interest rate cut is widely anticipated. With economists predicting this rate cut, many borrowers are already benefiting from reduced rates, with over two dozen lenders slashing their fixed rates in recent weeks. The…
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ANZ Group’s Flat Earnings Amid Competition Pressure and Global Trade Risks
Australia’s ANZ Group reported flat first-half cash earnings amid competition pressure and rising impairments. The bank’s CEO mentioned that market realignment is expected due to global trade risks, affecting trade flows and customer strategies. Despite a slight increase in profit to A$3.57 billion, ANZ’s shares fell by 2% as competition for cheaper home loans intensified.…