Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Tinubu Signs Four Landmark Tax Reform Bills Into Law

    June 26, 2025

    Osun State Declares Friday Public Holiday To Celebrate Hijrah

    June 26, 2025

    Insecurity: Lakurawa Kills 6, Injures 1 In Sokoto Community

    June 26, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Tinubu Signs Four Landmark Tax Reform Bills Into Law
    • Osun State Declares Friday Public Holiday To Celebrate Hijrah
    • Insecurity: Lakurawa Kills 6, Injures 1 In Sokoto Community
    • Court Sentences Gospel Singer, Timilehin To Death For Killing NYSC Member
    • Anyanwu’s Reinstatement As National Secretary, A Painful Decision – Damagum
    • Multichoice Slashes DStv Decoder Price By 50 Percent
    • Ex-Kwara Governor, Cornelius Adebayo Dies At 84
    • ‘Our Country Has Become Lawless’: Obi Bemoans Demolition Of Younger Brother’s Property In Lagos
    Facebook X (Twitter) Instagram
    TheScrutinyNG
    Subscribe
    Friday, June 27
    • Home
    • Politics
    • Business
    • News
      • World News
    • Sports
    • Interviews
    • Opinion
    • Entertainment
    • Columnists
    • ABOUT US
    TheScrutinyNG
    Home » Australian Bank CEOs Warn Of Global Inflation Risk From U.S. Tariffs
    2 Mins ReadMarch 18, 2025

    Australian Bank CEOs Warn Of Global Inflation Risk From U.S. Tariffs

    By Festus AdeloyeMarch 18, 2025No Comments2 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    A trade war sparked by U.S. President Donald Trump’s tariffs may drive up global inflation, stoke market volatility and slow economic growth, the CEOs of two top Australian banks said on Tuesday, but added Australia was insulated from the disruption.

    The heads of No. 1 retail lender Commonwealth Bank of Australia and No. 1 business lender National Australia Bank told a conference the new U.S. administration’s protectionist policies would likely strain the global economy in the medium term with higher costs and lack of certainty, according to a Reuters report.

    But Australia’s roughly $15 billion a year in exports to the U.S. was small compared to its overall export trade, so the country was better placed than Canada, which sells 85% of its exports to the U.S., the financial leaders added.

    READ ALSO: Trump’s Proposed Travel Ban Targets 43 Countries

    “There’s certainly risk to the downside, around slowing global growth,” CBA CEO Matt Comyn told the Australian Financial Review Business Summit in Sydney, adding U.S. tariffs would mean “inefficiencies in trade (and) therefore more inflation”.

    CBA had reported a “pronounced uptick” in mortgage applications since the Reserve Bank of Australia cut interest rates last month for the first time since November 2020 to 4.1%, Comyn’s head of retail banking Angus Sullivan told the conference earlier.

    NAB CEO Andrew Irvine said the rate cut had been an “exhale of breath” in the economy, but “tariff madness” under Trump may lower the chance of further cuts this year. Currently NAB expects two 25-basis point cuts in 2025.

    “We’re not an island,” Irvine told the conference. “If this tariff madness does happen, we could be at the end of (rate) reductions.”

    Author

    • Festus Adeloye
      Festus Adeloye

      View all posts
    Trump
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Festus Adeloye

    Related Posts

    Breaking News

    Tinubu Signs Four Landmark Tax Reform Bills Into Law

    June 26, 2025
    Culture & Tourism

    Osun State Declares Friday Public Holiday To Celebrate Hijrah

    June 26, 2025
    Crime

    Insecurity: Lakurawa Kills 6, Injures 1 In Sokoto Community

    June 26, 2025
    Breaking News

    Court Sentences Gospel Singer, Timilehin To Death For Killing NYSC Member

    June 26, 2025
    Featured

    Anyanwu’s Reinstatement As National Secretary, A Painful Decision – Damagum

    June 25, 2025
    Breaking News

    Multichoice Slashes DStv Decoder Price By 50 Percent

    June 25, 2025

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Editor's Picks

    Tinubu Signs Four Landmark Tax Reform Bills Into Law

    June 26, 2025

    Osun State Declares Friday Public Holiday To Celebrate Hijrah

    June 26, 2025

    Insecurity: Lakurawa Kills 6, Injures 1 In Sokoto Community

    June 26, 2025

    Court Sentences Gospel Singer, Timilehin To Death For Killing NYSC Member

    June 26, 2025
    Latest Posts
    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • US Politics
    • EU Politics
    • Business
    • Opinions
    • Connections
    • Science

    Company

    • Information
    • Advertising
    • Classified Ads
    • Contact Info
    • Do Not Sell Data
    • GDPR Policy
    • Media Kits

    Services

    • Subscriptions
    • Customer Support
    • Bulk Packages
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 The Scrutiny. Designed by Design Streams.

    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.