after hotter-than-expected inflation data intensified anxiety that central banks will tighten the global economy into recession.
“The US sharemarket’s break below its June low potentially opens up another 5 to 10 per cent leg down with a similar flow through to Australian shares,” warned Shane Oliver, head of investment strategy at AMP. At the close of trade on Friday, bond futures indicated that Australia’s cash rate would reach 3.3 per cent by the end of this year, and peak at 4.1 per cent by mid-2023.Across the ditch, the Reserve Bank of New Zealand is also expected to lift the cash rate by 0.5 percentage points to 3.5 per cent at its meeting on Wednesday.
Source: News Formal (newsformal.com)
Everything that everybody and the market are aware of but yet continue to scare monger....
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