The chief executives of the country’s largest banks say the upheaval caused by the economic policies of US President Donald Trump will not be a short-term disruption and could mean an early end of interest rate cuts.
The comments from Commonwealth Bank’s Matt Comyn and National Australia Bank’s Andrew Irvine came as prudential regulator John Lonsdale pointed to a “geopolitical maelstrom” that could result from the Trump administration watering down on lending rules put in place after the global financial crisis, creating a domino effect around the world.
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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
