Hello and welcome to the November 2023 Economic and RBA update!
Before we dive into the numbers, let’s address a sobering issue – the heightened geopolitical tensions and the Middle East conflict. This isn’t just about human suffering; it’s impacting the global economy.
All this uncertainty is affecting global confidence, investments, and trade, and it’s causing economic slowdowns. We hope for peaceful resolutions in the Middle East and Ukraine, but for now, the world economy is shaky. With geopolitical tensions, inflation worries, and rising debt costs, both stock and bond markets are experiencing turbulence. Stocks have dropped significantly, and there’s more potential downside if these issues persist. As we unpack this month’s RBA update, it’s important to acknowledge the economic impact of these global events.
Now, let’s get into this month’s data! This month, our focus is on three key points:
- RBA’s November Meeting: We’re closely watching the Reserve Bank of Australia’s upcoming meeting. The big question is whether they’ll raise the cash rate for the 13th time in this cycle, given September’s inflation data.
- Inflation Concerns: We’ll also delve into the topic of inflation.
- Property Market Update: Lastly, we’ll share the latest info on the property market.
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