- Reuters
Australian bank Westpac extends moratorium on regional branch closures till 2027
"Westpac is extending its moratorium on regional branch closures until at least 2027 while it strengthens regional banking services," Australia's third-largest lender in terms of market valuation said in a media statement. "This commitment will support more than 2.2 million customers and 1,000 employees who live and work in 182 regional areas." Established more than 200 years ago, Westpac said it is also investing over A$200 million ($129.64 million) over the next decade in partnership with the government-run Australia Post to allow cash and cheque transactions at select post offices.
- Bloomberg
Australian Consumer Confidence Slumps as Prices, Rates Take Toll
(Bloomberg) -- Australia’s consumer confidence declined in April as persistent inflation and interest rates at a 12-year high continued to squeeze households, leaving them gloomy about the economic outlook.Most Read from BloombergTrumpism Is Emptying ChurchesIran’s Better, Stealthier Drones Are Remaking Global WarfareWhy India’s South Rejects Modi — And Why It MattersBlackstone Nears Buyout of Skin-Care Company L’OccitaneGermany to Order Ships, Armored Vehicles Worth Up to €7 BillionSentiment dr
- Reuters
Australia consumer mood darkens anew in March - survey
Australian consumer sentiment eased from 20-month highs in March as worries about the economic outlook and family finances returned to darken the mood, a survey showed on Tuesday. The Westpac-Melbourne Institute index of consumer sentiment slipped 1.8% in March, from February when it jumped 6.2%. "Last month we saw some promising signs that the consumer gloom that has dominated over the last two years might finally be starting to lift," said Matthew Hassan, a senior economist at Westpac.
