Westpac share price rises: what’s driving WBC stock as RBA rate bets build
Westpac shares rose 0.94% to A$43.05 as Australia’s core inflation hit a 16-month high at 3.4%, raising market bets of a May rate hike to 80%. The ASX 200 closed at a record 9,128.3. Brokers flagged caution on major bank valuations, with Morgan Stanley rating Westpac underweight. Investors await the Reserve Bank’s March policy meeting and Westpac’s May results.