Sydney, Jan 10, 2026, 17:14 AEDT — Market closed
- Westpac said it will offer repayment deferrals and short-term credit support for customers hit by Victorian bushfires
- Shares last ended down 0.3% on Friday as big banks weighed on the ASX
- Traders are eyeing Australia’s quarterly CPI on Jan. 28 and the RBA decision on Feb. 3
Westpac Banking Corp said on Saturday it would roll out a disaster relief package for customers affected by Victorian bushfires, days after its shares slipped with the broader bank sector.
The move lands as fires burn across parts of Victoria and force evacuations, lifting scrutiny on household cash flow, small-business closures and the risk that missed payments turn into bigger losses for lenders.
Rates are the other live wire. Reserve Bank of Australia Deputy Governor Andrew Hauser said inflation was “still too high,” reinforcing that the next policy move is not a one-way bet for borrowers or bank stocks. Reuters
Westpac said the package includes the option for home-loan customers to defer repayments for up to three months, credit-card repayment deferrals, and temporary overdrafts for business customers. “Westpac stands ready to support customers affected by the Victorian bushfires,” retail banking general manager Damien MacRae said. MarketScreener
Westpac shares last closed at A$37.90 on Friday, down 0.29% on the day, in a session that also left Commonwealth Bank, NAB and ANZ mostly weaker. The stock is sitting below its 50-day moving average, a common trend gauge, around A$38.5.
The next hard macro marker is Australia’s December-quarter CPI report on Jan. 28, which can reset bets on whether rates rise again or stay on hold.
The RBA’s next monetary policy board meeting runs Feb. 2–3, with the decision due on Feb. 3, putting banks back in the firing line for any shift in the outlook for lending margins and bad debts.
For Westpac, the next scheduled company update is its first-quarter results on Feb. 13, followed by interim results and a dividend announcement on May 5, according to its financial calendar.
But the bushfire hit is still an unknown. Relief measures can soften the immediate blow for borrowers, yet a wider economic toll could still flow through to higher arrears and credit charges, especially if rates stay restrictive longer than markets expect.
