2249 GMT - Australia's third largest bank sees heightened global trade tensions as the key risk to its expectation of domestic economic growth and higher household incomes. National Australia Bank says it is maintaining strong balance sheet settings as a safeguard against further geopolitical risk. Announcing a 3.5% fall in 1H net profit, NAB says the sound starting position of the Australian economy at least provides scope for the country's central bank to adopt more stimulatory monetary policy response to potential headwinds. Its economists see the country's cash rate, currently at 4.1%, falling to 2.6% by February 2026. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 06, 2025 18:49 ET (22:49 GMT)
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