![]() "So, while Australia's major banks remain strong and resilient, pressure on net interest margins, combined with the increasingly uncertain operating environment, means they face a complex high-wire balancing act when it comes to managing profitable growth, customer expectations, investment priorities and shareholder returns. "However, intense competition in response to retail credit growth compression, coupled with rising funding costs, amplified by the recent dislocation in financial markets, will likely erode the benefits the banks have gained from the higher interest rate environment. In January, he said that BTC has replaced gold as an inflation hedge for millennials. Bitcoin has been tightly correlated with the stock market since the start of 2020. The resilience of the Australian economy continued to support credit growth and quality throughout the first half of the year," said EY Oceania Banking and Capital Markets Leader, Doug Nixon. In a warning over the potential risks for investors, the central bank questioned whether there was any inherent worth in the most prominent digital currency, which has soared in value this year to. The professor has been noting the rise in popularity of bitcoin for quite some time. ![]() ![]() That’s according to one strategist, who warns the world’s top cryptocurrency is likely to tank as. "Australia's major banks are walking a tightrope as headwinds for the sector intensify. If crypto’s past bubbles are anything to go by, bitcoin could be about to fall much further. Thu, Apr 27th 2023 Bernstein predicts crypto will reemerge as safe haven asset. On Twitter, Schiff said the network failed to ask. In addition, Schiff has taken issue with CNBC’s interview of Mike Novogratz, the CEO of Galaxy Digital and a well-known Bitcoin advocate. Analysis from EY shows Australia's big four banks reported combined statutory earnings of $16.77 billion in their half-yearly results - a 10.8% increase compared to this time last year.īut EY says the major banks are walking a "challenging tightrope" and will have to manage competing demands from investors, customers, regulators and government in "an increasingly uncertain and volatile backdrop".ĮY says cash rate rises are boosting revenues and net interest margins, while higher earnings have pushed up return on equity, although some signs of mortgage stress are emerging. BITCOIN’s price dipped below 6,500 yesterday as it fell below a key price point, which could be a sign of an imminent slide in its value, a crypto expert has predicted. SECs Gensler says the law is clear for crypto exchanges, they must comply. He has warned investors of the potential for a cryptocurrency crash and argued that the excitement surrounding BTC’s underlying technology has diminished.
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