dec 7 reuters  australias bank of queensland ltd boqax said on tuesday its net interest margin for fiscal 2022 would be lower than its previous forecast due to record low interest rates yield curve volatility and stiff competition the lender said the industry had seen headwinds to net interest margin a key measure of a banks profitability in the first quarter partly due to the reserve bank of australia abandoning an ultralow target for bond yields last month that along with price competition and increased fixed rate lending means bank of queenslands net interest margin will be lower than expected in october the lender had forecast a 5 basis points to 7 basis points decline in margins read more the bank however said its expenses would be about 1 lower for the year compared with its earlier forecast of a 3 rise on an underlying basis as it focuses on cutting costs australias big four lenders have already warned of margin pressure after record low rates spurred a boom in mortgage lending and intensified competition read more