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By Sameer Manekar
(Reuters) -Commonwealth Bank of Australia warned on Wednesday that the lagged effect of high interest rates will continue to exert financial strain on households and businesses, as its first-half profit dropped due to tighter margins.
The bank, whose profit still beat expectations, warned that risks to the Australian economy were building as slowing demand and persistent inflation impacted businesses, with geopolitical tensions adding to the uncertainty.
"As cash rate increa...
>>> Read more: Australia's CBA warns of economic strains as first-half profit drops
(Reuters) -Commonwealth Bank of Australia warned on Wednesday that the lagged effect of high interest rates will continue to exert financial strain on households and businesses, as its first-half profit dropped due to tighter margins.
The bank, whose profit still beat expectations, warned that risks to the Australian economy were building as slowing demand and persistent inflation impacted businesses, with geopolitical tensions adding to the uncertainty.
"As cash rate increa...
>>> Read more: Australia's CBA warns of economic strains as first-half profit drops
