Banks still in ‘black cloud crisis’ despite inflation trending down

The Switzer Report Founder Peter Switzer says Australian banks are still in a “black cloud crisis” despite inflation trending down. “I think the market believes that we’re getting close to the top of the interest rate rise cycle,” Mr Switzer told Sky News Australia. “Inflation is starting to trend down, but you’ve still got this black cloud crisis associated with banks. “I think just hold back on the enthusiasm.”