The Australian share market is set to trend down today, as jitters about rate hikes and inflation continue globally.That's after the benchmark actually closed up yesterday.
Part of the malaise globally includes concerns that the US economy will be hit by another rate hike this week when its Federal Reserve meets.The Dow Jones lost 0.7 per cent, while the S&P500 took a 1.2 per cent hit.As all of these factors hit economies globally, the International Monetary Fund has now just downgraded its global forecast again.
It revised its growth forecast to 3.2 per cent this year and 2.9 per cent next year, which represent 0.4 per cent and 0.7 per cent downgrades from April.
Source: News Formal (newsformal.com)
Has Philip Lowe noticed anything yet?
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