Q+A: NAB boss warns recession risk is rising
FEAR & GREED | Business News

Q+A: NAB boss warns recession risk is rising

B2Upper-intermediateNovember 5, 202613 min
  • Interview
  • Business & money

Sean Aylmer speaks with Andrew Irvine, CEO of National Australia Bank, about the economic outlook following NAB's full-year results. They discuss the risk of recession, how far house prices could fall, why some retailers are struggling while others thrive, and where businesses are still investing. Andrew also explains how artificial intelligence is transforming banking and what the US midterm elections could mean for the global economy. Find out more: https://fearandgreed.com.au/ See omnystudio.com/listener for privacy information.

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Interest rates are at an 18-year high, businesses and households are under increasing pressure

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National Australia Bank's full year results have provided a snapshot of those pressures.

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0:00

Welcome to Fear and Greet Q&A where we ask and answer questions about business, investing, economics, politics and more. I'm Sean Aylmer. Australia's economy is facing a difficult period.

0:15

Interest rates are at an 18-year high, businesses and households are under increasing pressure and there are growing concerns about the risk of recession. National Australia Bank's full year results have provided a snapshot of those pressures. profit fell to about $6.14 billion while the bank's credit impairment charge was notable.

0:34

It almost doubled to about $1.5 billion. NAB is Australia's biggest business lender, so it has a very unique insight into what's happening across the economy. Andrew Irvine is CEO of NAB.

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