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Australia and New Zealand Banking Sector Outlooks Deteriorating
Fitch Ratings has revised the outlooks for the banking sectors in Australia and New Zealand to Deteriorating, from Neutral, reflecting the greater headwinds against bank earnings and asset quality that we expect in 2H23, if not also into 2024. The adjustment in the banking sector outlooks has not been driven by major revisions to our baseline assumptions, but rather the greater impact that weakening economic activity will have on bank credit metrics in the second half of the year. That said, we have modestly revised down our 2023 economic growth forecast for New Zealand, to 0.8% at present, from 1% in December 2022. ... (full story)
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- Posted: Jun 8, 2023 12:26am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 861
