National Australia Bank Limited · ASX:NAB
National Australia Bank — Investor Presentation (May 2024)
17 slides from National Australia Bank's investor presentation, May 7, 2024
Slide 1: Global Financial and Economic Outlook
Global Financial and Economic Outlook Tapas Strickland | Head of Market Economics, Markets
Slide 2: Market pricing for rates
Market pricing for rates RBA held rates in May. NAB expects RBA on hold until November 2024 Economic and Global Financial Update 2
Slide 3: Global inflation moderating, but more slowly in Australia
Global inflation moderating, but more slowly in Australia Core inflation has moderated noticeably in some countries, Australia though is lagging Economic and Global Financial Update 3
Slide 4: Yields – remain elevated
Yields – remain elevated US and Australia not guiding towards immediate cuts, higher for longer for yields Economic and Global Financial Update 4
Slide 5: Geopolitics: Middle East Tensions and US election
Geopolitics: Middle East Tensions and US election Middle East tension impact fading; US politics important for trade Economic and Global Financial Update 5
Slide 6: Where is the economy right now
Where is the economy right now Business sector resilient, but consumers pessimistic Economic and Global Financial Update 6
Slide 7: Economic and Global Financial Update
Economic and Global Financial Update 7
Slide 8: Where is the economy right now
Where is the economy right now Consumption is coming into better balance Economic and Global Financial Update 8
Slide 9: Consumer are pessimistic about inflation, less so on rates
Consumer are pessimistic about inflation, less so on rates But are more pessimistic about inflation than rates Economic and Global Financial Update 9
Slide 10: Population relative to residential building
Population relative to residential building Australia’s population increased by 640k over the past year! Economic and Global Financial Update 10
Slide 11: FX Outlook
FX Outlook AUD range-bound; Watching BoJ regarding USD/JPY and how quickly US Fed will ease • AUD/USD sitting 0.6591 (where it was last webinar). Forecasts see AUD at 0.69 by end 2024 and 0.75 end 2025 • AUD has been unable to rally sustainably above 0.66. China/Japan and uncertainty around the US d
Slide 12: Detailed Forecasts
Detailed Forecasts Economic and Global Financial Update 12
Slide 13: NABvertising: Keep up to date with all the latest developments!
NABvertising: Keep up to date with all the latest developments! • Overnight Market Developments: Markets Today (available also as a podcast, The Morning Call) Click to listen • Resources Today • FX – Global FX Strategist • Economic Trends → Australian Markets Weekly → Australian and Global Economic
Slide 14: Disclaimer
Disclaimer salem General Disclaimer: This document has been prepared by Research author's) from the Markets Research Division on behalf of National Australia Bank Limited ABN 12 004 044 937 AFSL 230686 ("National Australia Bank Limited" or “NAB") its related companies, and associated entities. Any I
Slide 15: Disclaimer
Disclaimer Research author(s) Declaration: The Research author(s) who prepared the Report declared that, at the time of issuing the Report, they had not received inside information and had not been influenced or attempted to be influenced by any other part of the NAB Group. The present Report does n
Slide 16: Disclaimer
Disclaimer Country SpecificNotices - New Zealand: This publication has been provided for general information only. Although every effort has been made to ensure this publication is accurate the contents should not be relied upon or used as a basis for entering into any products described in this pub
Slide 17: Disclaimer
Disclaimer Singapore: This document is distributed in Singapore to institutional investors (as defined under the Financial Advisers Regulations) only. If this document is distributed in Singapore, it is made available to you in Singapore by NAB, Singapore branch, through general information circulat
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