A major bank has appointed a new managing director with more than 20 years’ experience in markets... Further RBA cut unlikely to benefit borrowers...
ANZ appoints Shayne Collins managing director markets
ANZ has announced Shayne Collins as the new managing director markets, reporting to group executive institutional Mark Whelan, effective immediately.
Collins has more than 20 years’ experience in markets and has been acting in the position since February 2016. In the role, Collins will be responsible for growing ANZ’s markets business which provides product across foreign exchange, capital markets, interest rates, commodities and derivatives, as well as specialist research and risk management expertise.
Whelan said: “I’m pleased to be able to appoint a leader with extensive markets experience as well as a reputation for integrity and strong values to this important leadership position.
“I know Shayne is the right person to ensure we maintain our focus on our customers as we set ourselves up to be a simpler, stronger, better bank,” Whelan said.
Further RBA cut unlikely to benefit borrowers
While the Reserve Bank of Australia may have gone 12 months between adjusting the official cash rate, there seems to be an increasing likelihood that the next movement will be sooner rather than later.
The RBA earlier this month dropped the cash rate from 2% to 1.75%, the first movement since May 2015 and that has been followed by predictions that it could soon fall again.
This month’s cut was largely the result of low inflation figures seen during early 2016 and Peter Jolly, global head of research for global markets at National Australia Bank, said if that continues the RBA may be forced to act again.
“Having cut rates to 1.75%... our current forecast is that they will sit at 1.75% for a good period, but I think it’s very obvious to say that there is another risk that they may need to cut rates again,” Jolly said.
“I don’t think there’s going to be anything in the next couple of months, but if we do get another low inflation print… then I think it’s definitely possible that they may cut rates again in August,” he said.
ANZ has announced Shayne Collins as the new managing director markets, reporting to group executive institutional Mark Whelan, effective immediately.
Collins has more than 20 years’ experience in markets and has been acting in the position since February 2016. In the role, Collins will be responsible for growing ANZ’s markets business which provides product across foreign exchange, capital markets, interest rates, commodities and derivatives, as well as specialist research and risk management expertise.
Whelan said: “I’m pleased to be able to appoint a leader with extensive markets experience as well as a reputation for integrity and strong values to this important leadership position.
“I know Shayne is the right person to ensure we maintain our focus on our customers as we set ourselves up to be a simpler, stronger, better bank,” Whelan said.
Further RBA cut unlikely to benefit borrowers
While the Reserve Bank of Australia may have gone 12 months between adjusting the official cash rate, there seems to be an increasing likelihood that the next movement will be sooner rather than later.
The RBA earlier this month dropped the cash rate from 2% to 1.75%, the first movement since May 2015 and that has been followed by predictions that it could soon fall again.
This month’s cut was largely the result of low inflation figures seen during early 2016 and Peter Jolly, global head of research for global markets at National Australia Bank, said if that continues the RBA may be forced to act again.
“Having cut rates to 1.75%... our current forecast is that they will sit at 1.75% for a good period, but I think it’s very obvious to say that there is another risk that they may need to cut rates again,” Jolly said.
“I don’t think there’s going to be anything in the next couple of months, but if we do get another low inflation print… then I think it’s definitely possible that they may cut rates again in August,” he said.
