Markets: ANZ's missing margin

The bank’s net interest margin is falling and may continue to decline if rates and the cost of funding rise.

ANZ Bank’s net interest margin contracted in the nine months to June 30 and the bank expects it to decline more in the next thee months. The Reserve Bank of Australia’s efforts to stimulate economic growth by slashing the cash rate to a record low is having its effect coupled with higher wholesale funding costs and an increase in deposit costs as ANZ Bank competes with its rivals for depositors.

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