Sydney, Jan 23, 2026, 17:30 AEDT — The market has closed.
Shares of ANZ Group Holdings Ltd finished Friday 0.5% lower, closing at A$36.21. The stock fluctuated between A$35.85 and A$36.33 during the session, with roughly 3.9 million shares traded. (Investing)
The bank starts a holiday-shortened week facing two challenges: renewed political scrutiny over the Suncorp Bank integration and a volatile interest-rate debate that could swiftly shake bank stocks.
This is significant since Australian banks usually follow changes in the rate outlook closely. Quicker adjustments to the Reserve Bank of Australia’s policy rate can affect lending margins and funding costs, while also impacting demand for home loans.
The S&P/ASX 200 edged up 0.13% to close at 8,860, nudging the broader market slightly higher. The Australian dollar stayed around 68.47 U.S. cents by the end of trading. (ABC)
ANZ came under scrutiny after the Finance Sector Union slammed planned job cuts across several Suncorp Bank divisions. The union said 197 roles are affected, with 66 jobs expected to be axed, mainly in Brisbane. It also questioned ANZ’s claim that it’s honoring commitments made during the deal approval. ANZ, however, told Reuters it remains firm on its promises, including “no net job losses in Australia as a direct result of the acquisition.” (Reuters)
Investors digested a shift in rate-hike expectations following Thursday’s stronger-than-expected labour data. Australia’s jobless rate dropped to 4.1% in December, with employment rising by 65,200. That move pushed markets to price in a 57% chance of a 25 basis-point hike from the RBA at its Feb. 3 meeting, Reuters reported. Harry Murphy Cruise, head of economic research at Oxford Economics Australia, noted in a Reuters-cited note that “the magic number for trimmed mean inflation is 3.2%.” (Reuters)
Inflation is the next major hurdle. On Jan. 28 at 11:30 a.m. AEDT, the Australian Bureau of Statistics will release the December 2025 Consumer Price Index. Investors will be focusing on the “trimmed mean” figure, a core measure that excludes the most volatile price changes. (Australian Bureau of Statistics)
The RBA’s upcoming policy meeting is scheduled for Feb. 2–3, leaving little room for error if inflation surprises either way. (Reserve Bank of Australia)
Trading might get choppy as the local week is shortened. The ASX will be closed Monday for Australia Day, cutting into the time investors have to adjust ahead of Wednesday’s CPI report. (Market Index)
But things could swing the other way. A softer inflation reading might ease pressure on rate-hike expectations and boost bank stocks. On the flip side, a stronger figure could reignite concerns over mortgage stress and credit losses, despite potential margin gains.
ANZ is now focused on Wednesday’s CPI data and its impact on expectations for the Feb. 3 RBA decision. Meanwhile, the ongoing Suncorp job-cut dispute looms quietly as a possible headline risk.
