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Context from Wikipedia on the organisations, people and places in this story.
Australian multinational bank
Westpac Banking Corporation is an Australian multinational banking and financial services company headquartered at Westpac Place in Sydney.
More on Wikipedia ↗Analysts said further interest rate rises would only increase the likelihood of a loan-loss cycle next year for the banking sector – the first “homegrown” one in 35 years.
The rate rise deepens the cost-of-living crisis for working-class households and intensifies the pressure of the financial markets on the Albanese government to further slash social spending.
Auction clearance rates have historically been a strong leading indicator of dwelling value growth, especially in major capital city markets. As CBA shows below, this year’s auction clearance rates have tracked well below those of 2025 and 2024, reflecting the sharp decline in the nation’s dwelling values. Dwelling…