The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is in the green today.
ANZ shares are rising 1.3% and are currently trading at $25.74 apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 1.8%.
Let's take a look at what could be impacting the ANZ share price today.
What's going on?
ANZ is not the only ASX bank share rising today. Commonwealth Bank of Australia (ASX: CBA) shares are jumping 1.88%, while National Australia Bank Ltd (ASX: NAB) shares are up 1.48%. The Westpac Banking Corp (ASX: WBC) share price is leaping 2.26%.
In global markets, major US bank Bank of America Corp (NYSE: BAC) shares soared 6% overnight after the company reported third-quarter earnings. The bank's net interest income soared 24%, driven by "benefits from higher interest rates".
In news today, ANZ has advised of changes to the company's executive committee.
Antony Strong will join the executive committee in the role of Group Executive Strategy and Transformation. Also, Gerard Florian's role has been widened to also include group services. Florian has worked as the company's technology executive since January 2017.
ANZ CEO Shayne Elliott said:
Both Gerard and Antony are experienced executives who will continue to play a critical role in ANZ's transformation while also ensuring we remain intently focussed on our strategic priorities.
Meanwhile, the ANZ economics team is expecting the Reserve Bank of Australia (RBA) to lift the official rate by 25 basis points in November.
In a research note today, head of ANZ economics David Plank said:
The RBA's October minutes suggest a 25 bp cash rate hike in November is the most likely outcome, even if we get an upward surprise in the Q3 CPI next week. But such a result will make a move in December more likely than we currently anticipate.
ANZ share price snapshot
The ANZ share price has descended 8% in the past year, while it has lost nearly 6% this year to date.
ANZ has a market capitalisation of nearly $76 billion based on the current share price.
