Tag: Negative Outlook

The Commonwealth Bank of Australia (CBA) has refused to rule out possible job cuts within the bank, as they prepare for the worst. According to CBA chief executive Ralph Norris, the economy is set to get worse as unemployment rises and further threatens the banking system. “There’s no doubt that the toughest period in the […]

Moody’s Investors Service has given Australian banks some not so good news, cutting it’s ratings outlook to negative as a result of a slowing economy and mounting debts. In the first time since the 1991 recession, Australia’s big four banks have had a negative outlook on their AA ratings. The ANZ, Commonwealth Bank, Westpac and […]