SYDNEY, Feb 17, 2026, 16:59 (AEDT) — The session wrapped up with the market now closed.
- ANZ slipped 0.7% to close at A$39.36, trailing modest advances among its major banking peers.
- RBA minutes left further tightening on the table, putting bank margins back in the spotlight.
- Focus turns to this week’s macro data and ANZ’s upcoming reporting deadlines.
ANZ Group Holdings slipped 0.7% to close at A$39.36 on Tuesday, lagging its big bank peers as traders digested the Reserve Bank of Australia’s minutes and renewed questions about bank valuations. Shares moved between A$39.32 and A$39.85 during the session, still some distance from the 52-week high of A$41.00. (Google)
It’s a big deal for the local index—ANZ and its rivals are right in the thick of it and tend to move with interest-rate expectations. Higher policy rates might boost loan yields, though they also bump up deposit costs and, if they stick around, start to drag on loan appetite and credit quality.
On Tuesday, the RBA published minutes from its February meeting, revealing officials don’t see a predetermined path for interest rates after raising the cash rate by 25 basis points to 3.85%. Markets are still pricing in another hike by May, assuming inflation refuses to ease. (Reuters)
The ASX 200 ended the session 0.2% higher at 8,958.9, steady overall. Gains in mining stocks, BHP at the front, helped balance out weakness in other sectors. (The Australian)
Valuation questions lingered, too. Morningstar’s Nathan Zaia stuck with his A$33 fair value for ANZ after the bank reported underlying profit up 17% for the first quarter, reaching A$2.0 billion. That jump came as underlying operating expenses dropped 8%, and net interest margin edged up to 1.56%. Still, Zaia called the shares “overvalued,” citing potential hurdles around integration and governance. (Morningstar)
ANZ’s weekly ANZ-Roy Morgan survey delivered more signs of household nerves, with the bank describing consumer confidence as “very weak” at 77.1. Meanwhile, weekly inflation expectations bumped up to 5.5%. (ANZ)
Now, traders are weighing whether rates end up squeezing or boosting margins from this point. Loan pricing tends to catch up fast. But deposit competition? That can move even faster.
But the risks cut both ways. More tightening piles extra pressure on mortgages and small business loans, and that can show up as higher bad-debt expenses. Cost-cutting that drags, or a messy integration process, usually tests the market’s patience—sometimes quickly.
Looking past the current slate of data, attention shifts to the RBA’s Monetary Policy Board meeting coming up March 16–17. That’s when rate-setters meet next, giving investors the key window to reassess their positions on the bank trade. (Reserve Bank of Australia)
ANZ’s next big event lands May 7, when it’s set to release half-year results. After that, interim dividend dates roll out in mid-May. (ANZ)
But first, eyes are on Thursday’s Australian labour force numbers for January, landing at 11:30 a.m. AEDT. That report could jolt rate forecasts—and with banks trading in lockstep with policy bets, it’s the next catalyst they’re watching. (abs.gov.au)
