Loan impairment expenses increased sharply by $1.5bn, which CBA attributed to cost-of-living pressures and rising borrowing costs.
Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup He said consumer demand was moderating and economic growth slowing, but immigration was providing a “structural tailwind for the economy”. “There are signs of downside risks building as rising interest rates have a lagged impact on mortgage customers and other cost-of-living pressures become a financial strain for more Australians,” Comyn said.
