"WESTPAC has blamed a dramatic slowdown in the Australian economy for today's decision to cut up to 400 staff across the bank."
- Dramatic slowdown?
Westpac's acting head of Australian Financial Services, Peter Hanlon said "The slowdown in business activity and consumer activity is happening across the board,"
- Broad Based?
"It's as bad as I have seen it in 30 years of being in banking. We have housing credit demand at an incredible low."
- I don't understand. If we don't have a housing bubble in Australia and we do have such a healthy economy, why is growth in housing lending at levels not seen since World War II?
"WESTPAC has blamed a dramatic slowdown in the Australian...
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