Australia – Westpac comments on the economy, housing, mortgage delinquencies – ForexLive

One of Australia’s big banks released their profit results this morning, and in the release had a few comments to note on the economy and such

WPAC notes that the economic environment remains supportive

Outlook for Australian economy remains positive

  • GDP growth expected around 2.7%
  • consumers are likely to be more cautious, citing flat wage growth, soft house price performance, uncertaintiesĀ  in the lead up to the Federal election, global backdrop becoming less favourable
  • job market growth expected to remain solid
  • above-trend investment in private and public infrastructure to continue
  • subdued growth in household income to remain
  • low inflationĀ 
  • “We expect the Reserve Bank of Australia to keep rates on hold throughout 2019”

On their housing loan book:

  • mortgage book remains fundamentally sound
  • around 70% of Australian customers ahead on repayments
  • 90 day delinquencies remain low

ForexLiveAutralia economy news

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