Monday, May 8, 2023

Westpac in $4 billion half year profit, predicts rising mortgage stress but sees soft economic landing

While Jim Chalmers fine-tunes the numbers before tomorrow night's Budget, Australia's oldest bank has delivered a bumper half year profit of four billion dollars.

But Westpac chief executive Peter King predicts the economy will continue to slow this year with households and businesses about to feel the full force mortgage stress from higher interest rates.

Here's my report on The World Today

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