Banks will struggle to recoup margins crunched by future Reserve Bank interest rate cuts as political scrutiny of mortgage pricing is set to remain regardless of who wins the federal election this weekend, according to analysts.
Major banks, especially the Commonwealth Bank, have been viewed as safe havens by investors this month amid market volatility, and the sector has outperformed the broader ASX 200.
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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
