it was travelling at around a 10 forward PE, which is a fair buy...

it was travelling at around a 10 forward PE, which is a fair buy for a bank. Also need to add franking to that yield.

it’s highly unlikely the banks will produce significant growth, rather an index hugging dividend stock. With potential issues surrounding bad debts and clearly inflation higher for longer given our government isn’t showing forward spending restraints, expect rates to remain higher. However at least once competition for mortgages subsides we could see some green lights and also immigration expanding our economy (albeit I am not pro our insane levels of immigration for social reasons to our existing quality of life being diluted and it being a short term sugar hit, long term structural deficit issue as they age). ANZ equally, in theory, is an inflation hedge with the other banks as we ain’t going back to 2% or less inflation targets in my view.