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Terrible FY2019 results from WBC today.[ATTACH=full]98412[/ATTACH]Weakness virtually across the board. In a low growth, low inflation, low interest rate economic environment banks are going to struggle to make any real headway. The problem is, I don't think economic conditions are going to change in a hurry. We won't be seeing interest rate rises until we see real wage growth and we won't see that until we see real economic growth.Banks are going to be stuck in the mud for a while, wheels spinning like crazy but just getting themselves deeper into the mire. When the US market eventually collapses conditions will even be worse. It's going to be a long, bumpy, painful road back to profit growth for the banks IMO.
Terrible FY2019 results from WBC today.
[ATTACH=full]98412[/ATTACH]
Weakness virtually across the board. In a low growth, low inflation, low interest rate economic environment banks are going to struggle to make any real headway. The problem is, I don't think economic conditions are going to change in a hurry. We won't be seeing interest rate rises until we see real wage growth and we won't see that until we see real economic growth.
Banks are going to be stuck in the mud for a while, wheels spinning like crazy but just getting themselves deeper into the mire. When the US market eventually collapses conditions will even be worse. It's going to be a long, bumpy, painful road back to profit growth for the banks IMO.
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