NAB CEO warns Trump's 'tariff madness' may end Australia's easing cycle
A "global tariff war" would stoke global inflation and pose challenges for Australia, Irvine said. Last month, Australia cut interest rates for the first time since November 2020 to 4.1%.
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"We're not an island," he told the Australian Financial Review Banking Summit. "If this tariff madness does happen, we could be at the end of reductions [in Australia]."
NAB, the country's third-largest mortgage lender and top business lender, is currently forecasting two quarter-point rate cuts in the back half of 2025.
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