FEAR & GREED | Business News Westpac’s bumper result; jobs market might delay rate cut; super housing boost
Aug 14, 2025
Westpac's impressive profit growth has reignited excitement around the banking sector. Australia's job market sees a surge with 24,500 new positions, though it may delay desired interest rate cuts. The ASX continues to reach record highs, buoyed by strong economic data. Telstra reports a 31% profit increase, partly from AI integration. Legal issues loom with a new insider trading case, while tensions rise in Europe over potential US-Putin negotiations regarding Ukraine. Lastly, discussions about a four-day work week gain traction.
AI Snips
Chapters
Transcript
Episode notes
Westpac’s Strong Return Sparks Market Rally
- Westpac's new CEO Anthony Miller delivered a 14% quarterly profit lift and stronger business lending and deposits.
- The result reignited investor confidence and helped push the ASX to another record high.
Jobs Growth Likely Delays Rate Cuts
- July added 24,500 jobs and unemployment fell from 4.3% to 4.2%, showing economic resilience.
- Strong employment makes an imminent RBA rate cut less likely and pushes expectations toward November or December.
Record ASX Highs And A Firmer Aussie
- The ASX 200 hit record intraday highs for several days, supported by bank gains and broader sector strength.
- A stronger jobs print lifted the Australian dollar to about 65.5 US cents as rate-cut expectations faded.