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Citi downgrades Australia’s big four banks on lower rate cut expectations and valuation concerns

Global investment bank Citi downgraded its recommendations for ANZ (ASX: ANZ), Commonwealth Bank of Australia (ASX: CBA), National Australia Bank (ASX: NAB) and Westpac (ASX: WBC) this week after diminishing rate cut expectations exposed significant downside risks. It said any chance of a cut was progressively being pushed out, leaving banks exposed to poor earnings […]