Westpac Stock Price Drops as Fresh RBA Hike Calls Rattle Big Australian Banks
Westpac shares closed down 1.19% at A$40.54 on Thursday, further below last month’s record A$42.13. Economists at Westpac, NAB, and CBA now expect the Reserve Bank of Australia to raise rates on March 17, with market odds at 75% for a 25-basis-point hike. Household spending growth has slowed, according to Westpac data.
