Moody’s: Australian bank profitability to weaken

The US-based Moody’s Investors Service is out with its latest report on the Australian banking sector, with the key highlights found below.

Asset quality and capital support a stable outlook.

Profits to fall because of lower interest rates, slow credit growth, intense competition. 

The AUD/USD pair has come under pressure last hour, now meandering near session lows of 0.6765 ahead of  RBA Governor Lowe's speech.