national australia bank

With economists expecting the Australian dollar to strengthen this year, investors are looking to currency-hedged funds to remove FX exposure that threatens to erode the value of their international investments.

Combined cash profits from Australia’s big four banks increased 6.5 per cent to $28.5 billion in FY22, delivering a bumper year ahead of a looming deterioration in economic conditions.

If there was one word to summarise the relationship between the big four banks and interest rates, it would be volatile. In March, the banks rallied after the Reserve Bank of Australia shifted its dovish rhetoric and signalled imminent rate rises to combat inflation. Now with the RBA acting on those increases by most recently passing a 50 basis point increase, big four shares are tumbling over themselves.

Weak open ahead, Fifth straight month for the ASX, IOOF loads up